Macroeconomic Effects of the Commodity Price Shocks on the Post-Soviet Resource-Rich Economies

Niftiyev, I. (2020). Macroeconomic effects of the commodity price shocks on the post-soviet resource-rich economies. Vergi jurnalı. 139(1), pp. 49-58.

10 Pages Posted: 22 Apr 2021

See all articles by Ibrahim Niftiyev

Ibrahim Niftiyev

University of Szeged, Doctoral School in Economics - Institute of Finance and International Economic Relations; Centre for Studies on European Economy (AIM) - Azerbaijan State University of Economics (UNEC)

Date Written: june 10, 2020

Abstract

Post-soviet countries still experience economic challenges following the painful transition process and the global financial crisis. Especially, resource-rich countries experience it in a higher magnitude because of the distinguished role of the mineral revenue in the macroeconomic stability. Recent price shocks in the international commodity markets proved this point as a reflection on the macroeconomic performance of the post-soviet resource-rich countries. This paper aims to compare country statistics of Azerbaijan, Kazakhstan, Russia, and Turkmenistan to draw general conclusions about the recent effects of 2014-2015 sharp commodity price downturns. To do so, graph analysis and correlation analysis have been applied. The findings reflect a strong and significant correlation between the selected variables of interest, such as GDP, GDP per capita, terms of trade, government spending, etc. and oil prices.

Keywords: Resource Dependency, Dutch Disease, Post-Soviet Countries, Resource-Rich Countries, Correlation Analysis

JEL Classification: F00, F10, F13, F14, F15, G01

Suggested Citation

Niftiyev, Ibrahim, Macroeconomic Effects of the Commodity Price Shocks on the Post-Soviet Resource-Rich Economies (june 10, 2020). Niftiyev, I. (2020). Macroeconomic effects of the commodity price shocks on the post-soviet resource-rich economies. Vergi jurnalı. 139(1), pp. 49-58., Available at SSRN: https://ssrn.com/abstract=3823812

Ibrahim Niftiyev (Contact Author)

University of Szeged, Doctoral School in Economics - Institute of Finance and International Economic Relations ( email )

Kálvária sgt. 1.
Szeged, Csongrád 6722
Hungary

HOME PAGE: http://eco.u-szeged.hu/english/organizational-structure/institutes/institute-of-finance-and-internat

Centre for Studies on European Economy (AIM) - Azerbaijan State University of Economics (UNEC) ( email )

Istiglaliyyat street 6
Baku, AZ Az1001
Azerbaijan

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
9
Abstract Views
57
PlumX Metrics