The Relationship between Oil Prices and Inflation in Oİmporting Countries (1980-2022)
Kudabayeva L. Abubakirova A. Zurbayeva A. Mussaeva G. Chimgentbayeva G.
15 January 2024Econjournals
International Journal of Energy Economics and Policy
2024#14Issue 1359 - 364 pp.
The increase in the price of oil, which is an important input in production, decreases the level of output, causes cost inflation and generally affects the economy negatively. In oil-importing countries, it leads to an increase in costs and a decrease in competitiveness in international trade, thus negatively affecting the balance of payments. The aim of this research is to investigate the relationships between oil price and inflation by using quarterly data between 1980Q1 and 2022Q4 in oil importing countries. In addition, it is aimed to determine the contribution of the GDP and unemployment rate variables, which are widely used in explaining inflation, as well as the inflationary effects of oil prices. According to the results of the study, the effect of oil prices on inflation differs from country to country. It is observed that Italy and France are the most affected countries.
Oil Price , Oil İmporting Countries , Panel Cointegration , İnflation
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Taraz Regional University named after M.Kh.Dulaty, Taraz, Kazakhstan
Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Narxoz University, Almaty, Kazakhstan
Taraz Regional University named after M.Kh.Dulaty
Khoja Akhmet Yassawi International Kazakh-Turkish University
Narxoz University
10 лет помогаем публиковать статьи Международный издатель
Книга Публикация научной статьи Волощук 2026 Book Publication of a scientific article 2026