Crude Oil and its Economic Effects on Russia

Anton Gryzunov

Bachelor's thesis

Anotácia:

With help of regression analysis it was concluded that there is positive relationship between real GDP and Brent oil price. Also the positive dependence was found between real GDP and both index of industrial production and real personal consumption expenditures. On the other hand the relationship between long-term interest rate and real GDP was negative. Unemployment rate and consumer price index were not significant and had negative dependence with real GDP. The aforementioned hypothesis about the negative relationship between GDP and price of oil was confirmed in line with initial theoretical predictions based on detailed review of Russian economy.

Abstract:

With help of regression analysis it was concluded that there is positive relationship between real GDP and Brent oil price. Also the positive dependence was found between real GDP and both index of industrial production and real personal consumption expenditures. On the other hand the relationship between long-term interest rate and real GDP was negative. Unemployment rate and consumer price index were not significant and had negative dependence with real GDP. The aforementioned hypothesis about the negative relationship between GDP and price of oil was confirmed in line with initial theoretical predictions based on detailed review of Russian economy.

Kľúčové slová

World Oil Market, Oil Price Shocks, Russian Economy, International Trade

Keywords

Oil Price Shocks, Russian Economy, World Oil Market, International Trade

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 29. 10. 2015

Obhajoba závěrečné práce

• Obhajoba proběhla 3. 2. 2016
• Vedúci: Helena Chytilová
• Oponent: Jaromír Prokop

Vysoká škola ekonomická v Praze

Bachelor programme / odbor:
Ekonomie a hospodářská správa / Economics