The Impact of Oil Price Shocks on Oil-Dependent Countries’ Currencies: The Case of Azerbaijan and Kazakhstan
The paper aims to assess the relationship between Azerbaijani and Kazakhstani exchange rates and crude oil prices volatility. The study applies the structural vector autoregressive (SVAR) model. The paper concentrates on Azerbaijan and Kazakhstan, the post-Soviet countries considered as some of the most oil-dependent countries in the Caspian Sea region. The impulse response functions suggest that the rise of crude oil prices is associated with the exchange rates decrease and thus with an Azerbaijani manat and Kazakhstani tenge appreciation against the U.S. dollar. Moreover, the results suggest... Mehr ...
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Dokumenttyp: | Artikel |
Erscheinungsdatum: | 2021 |
Reihe/Periodikum: | Journal of Risk and Financial Management, Vol 14, Iss 431, p 431 (2021) |
Verlag/Hrsg.: |
MDPI AG
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Schlagwörter: | crude oil / exchange rate / international reserves / Dutch disease / Caspian Sea region / Azerbaijan / Risk in industry. Risk management / HD61 / Finance / HG1-9999 |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-28576951 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | https://doi.org/10.3390/jrfm14090431 |