Oil prices shocks and the Russian economy

Балашова, Светлана; Serletis, Apostolos

doi:10.1016/j.jeca.2019.e00148

Cited by 52 publications

(29 citation statements)

References 18 publications

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“…A similar study was conducted by Russian and Greek experts and proved that positive shocks in oil prices had a positive and statistically significant impact on almost all types of economic activity in Russia (Svetlana Balashova and Apostolos Serletis) [6].…”

Section: Introductionsupporting

confidence: 52%

Using the Achimovka Technique in the Oil Industry as One of the Modern Ways of Increasing the Competitiveness of the Russian Federation in the World Market

Kuzmina

2021

MATEC Web Conf.

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The relevance of this study lies in the fact that the modern oil market is characterized by instability and high competition. Depletion of oil fields, deterioration of equipment for oil production, price volatility and political conflicts negatively affect Russia’s position in the global energy market. New economic conditions in 2021 are associated with a decrease in demand for oil and oil products, high import dependence, conservation wells to complete the deal under OPEC ++, which will lead to a fall in the market by 3-10%. It is necessary to apply new methods of oil production, one of which is the method of achimovka oil fields. Methods. The initial materials were statistical data from the Center for Macroeconomic Analysis and Short-Term Forecasting, the Ministry of Economic Development of Russia, the Analytical Center for the Government of the Russian Federation, world rating reports. Results. The pandemic and self-isolation of 2020 led to the fact that the Russian oil sector lost 50-60% of proceeds from the export of hydrocarbons, more than 50% of its capitalization. To support the industry, the Ministry of Industry and Trade of Russia will allocate 35 billion rubles. until 2024 for the development of new offshore and deep oil deposits. Conclusions. For Russian oil companies, the following is relevant: search for new sales markets (for example, Asia); application of innovative technologies to maintain the profitability of oil and gas production through the development of bazhen and achimovka; development of small deposits and deposits with hard-to-recover reserves.

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Section: Introductionsupporting

confidence: 52%

Using the Achimovka Technique in the Oil Industry as One of the Modern Ways of Increasing the Competitiveness of the Russian Federation in the World Market

Kuzmina

2021

MATEC Web Conf.

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“…Moreover, there is extensive literature available including earlier studies of Narayan et al (2014) and Lee and Chiu (2011) , and the recent studies of Kartal (2020) and Balashova and Serletis (2020) . These studies have also investigated the oil other natural resources price volatility for different countries and regions and for different time periods and provided empirical evidence of their diverse outcomes.…”

Section: Introductionmentioning

confidence: 99%

Natural resources commodity prices volatility and economic performance: Evidence from China pre and post COVID-19

Mei

Ali

et al. 2021

Resources Policy

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Volatility in the prices of natural resources particularly in the Covid-19 period is the subject of major concern in recent times. Although many studies have empirically investigated the influence of oil prices on economic growth and Covid-19 on oil prices. However, the current study contributes to the literature by investigating the causal linkage of natural resources commodity prices and economic growth in the pre and post Covid-19 period for China over the period from January 01, 2019, to April 01, 2021. This study employed the wavelet power spectrum, and the wavelet coherence approaches, and the frequency domain causality test, which is known for the causal identification in the long-run, medium-run, and short-run. The empirical findings reveal that the natural resource commodity prices are more vulnerable than the economic performance particularly in the Covid-19 peak period in China. However, the wavelet coherence approach demonstrates that a bidirectional causal association exists between natural resources commodity prices and economic performance at different frequencies and time periods. Additionally, the frequency domain causality test confirms that the natural resource commodity prices volatility significantly causes economic performance only in the medium-run. Based on the empirical findings, this study recommends that innovative technological and precautionary measures must be taken to accommodate or overcome natural disasters in the future, and tackle natural resources commodity prices volatility.

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“…We find the domestic oil prices do Granger cause main economic activity, industrial production and manufacturing which is consistent with the cyclical properties. (Balashova & Serletis, 2020) Oil price shocks The structural shocks of oil price fluctuations are categorized into four types: oil supply shocks, global demand shocks, domestic demand shocks and oil-specific demand shocks.…”

Section: Overview Of Inflation In 2012mentioning

confidence: 99%

Structural break and consumer prices: the case of Malaysia

Ruslan

Mokhtar

2020

Cogent Business & Management

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This paper studies the dynamic behaviour of both linear and non-linearity of consumer prices in Peninsular Malaysia and Sabah from 2004 to 2015. For linear tests, monthly prices data of consumer price index (CPI) for nine groups of goods and services were analysed using the unit root tests and cointegration tests with structural breaks; while for non-linear test, NARDL test is incorporated. The findings indicated that (i) both Zivot and Andrews unit root test and Perron unit root test provided fairly similar results; most of the breakpoints occurred in 2008, followed by 2012 and 2013, (ii) the variables did not cointegrate in the Johansen cointegration test which indicates that no stable long-run relationship was reflected in the CPI for all groups, except for "transport", and (iii) the Gregory and Hansen test demonstrated some form of cointegration with a structural break(s) existed, with a most recorded break in 2008 (iv) the NARDL test shows a fair impact of asymmetrical interaction for all groups except for Housing, Water, Electricity, Gas, and Other Fuels; Health and Recreation Services and Culture. Overall, this study intends to match the structural break points and the groups affected with the corresponding critical economic incidents.

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Oil prices shocks and the Russian economy

Cited by 52 publications

References 18 publications

Using the Achimovka Technique in the Oil Industry as One of the Modern Ways of Increasing the Competitiveness of the Russian Federation in the World Market

Using the Achimovka Technique in the Oil Industry as One of the Modern Ways of Increasing the Competitiveness of the Russian Federation in the World Market

Natural resources commodity prices volatility and economic performance: Evidence from China pre and post COVID-19

Structural break and consumer prices: the case of Malaysia

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