Oil Prices as the Impact Factor on the Economic Growth of Russia's Economy

Student: Khazova Valeriya

Educational Programme: Economics and Statistics (Bachelor)

Final Grade: 7

Year of Graduation: 2017

The problem of Russia's economy high dependence on oil prices is still quite urgent nowadays. The aim of this investigation is to determine and assess the influence of oil prices changes on Russia's economic growth and main macroeconomics indicators. The paper describes the dynamics of GDP growth indicators and world oil prices, their interrelations, and also presents a solution to the system of econometric equations, that describe the level of oil prices impact on macroeconomic indicators. As a result, it is confirmed that oil prices changes have a significant impact on Russia's economic growth.

Full text (added May 12, 2017)

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