Impact of Energy Resources' Prices on Providing of Energy Security

In this study was made an assessment of the impact of energy resource’s prices as the most important factor in ensuring energy security in developed and developing countries. The goals of this work are to identify similarities and differences in the concepts of energy security of the world's economies with different levels of development, to characterize the volatility of energy resource’s prices, to study methods for assessing the energy security of countries and to assess the impact of energy resource’s prices. To confirm the hypothesis that energy resource’s prices affect developing countries more than developed countries, a panel regression analysis was used for fourteen developed and developing countries. Panel regression analysis has shown that price volatility does have a greater impact on the energy security of developing countries.