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Ï»¿The Effects Of Brent Spot Oil Variation On Macroeconomics Indicators: Case Study For Five European Countries

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  • Bogdan Ion BOLDEA

    („West University of Timisoaraâ€)

Abstract

This paper was purposed to analyses the correlation between Brent Spot Oil price per barrel and the following macroeconomic indicators: Gross Domestic Product, Balance of Payments, Balance of Trade and Net Exports, for the each of the following countries Romania, Germany, France, Italy, and Spain. We did a comparison between the countries indicators in order to examine how they are related and make a correlation of their evolution from 1971 to 2021. The Pearson's coefficient was used in order to identify whether the correlation is positive or negative, and if there is a connection between them or not. In addition, we ran a linear regression for each country independently to see what kind of relationship there is between current Brent Spot Oil price/barrel and the selected macroeconomic indicators.

Suggested Citation

  • Bogdan Ion BOLDEA, 2023. "Ï»¿The Effects Of Brent Spot Oil Variation On Macroeconomics Indicators: Case Study For Five European Countries," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(25), pages 1-2.
    • Handle: RePEc:alu:journl:v:2:y:2023:i:25:p:2
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    References listed on IDEAS

    as
    1. Lardic, Sandrine & Mignon, Valerie, 2006. "The impact of oil prices on GDP in European countries: An empirical investigation based on asymmetric cointegration," Energy Policy, Elsevier, vol. 34(18), pages 3910-3915, December.
    2. Adeosun, Opeoluwa Adeniyi & Tabash, Mosab I. & Anagreh, Suhaib, 2022. "Oil price and economic performance: Additional evidence from advanced economies," Resources Policy, Elsevier, vol. 77(C).
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    More about this item

    Keywords

    Financial stability; GDP; Balance of Trade; Balance of Payments; Regression analysis;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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