The effect of oil prices on foreign trade deficit in the economics of Bulgaria
Oil takes up a significant place in global energy consumption and oil prices are notable indicators of countries’ economic performances. As a matter of course, the bigger and longerlasting the increase in oil prices, the bigger effect it has on macroeconomic variables. The present study investigates...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2019-09-01
|
| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1411.pdf
|
| Summary: | Oil takes up a significant place in global energy consumption and oil prices are notable
indicators of countries’ economic performances. As a matter of course, the bigger and longerlasting
the increase in oil prices, the bigger effect it has on macroeconomic variables. The present
study investigates the relationship between changing oil prices and foreign trade of Bulgaria using
annual data between the years 1982-2017 by means of Fourier ADF and Fourier KPSS unit root
tests and Arai-Kurozumi co-integration test with a structural break. Presence of co-integration
between series was concluded. |
|---|---|
| ISSN: | 1841-8678 1844-0029 |