Department Chair
Theodore F. Byrley, Ph.D., Chair and Associate Professor of Economics and Finance
Date of Award
12-2013
Access Control
Open Access
Degree Name
Applied Economics, M.A.
Department
Economics and Finance Department
Advisor
Ted P. Schmidt, Ph.D., Associate Professor of Economics and Finance
Department Home page
http://economics.buffalostate.edu/
First Reader
Ted P. Schmidt, Ph.D., Associate Professor of Economics and Finance
Second Reader
Theodore F. Byrley, Ph.D., Chair and Associate Professor of Economics and Finance
Third Reader
Michael S. Pendleton, Ph.D., Chair and Associate Professor of Political Science
Abstract
Early in the past century, oil has powered economic growth in industrialized economies. Towards the end of the 20th century, as emerging and underdeveloped economies relied more on oil powered means for their everyday need, their appetite for oil has considerably increased and this put an upward pressure on the global oil demand. As supply now struggles to match demand, oil prices are more and more driven by macroeconomics fundamentals. The disparity between supply and demand has had different effects on economies depending, if it is a net oil-exporting or net oil-importing one. This paper will attempt to quantify the impact of oil price on growth for importing or exporting countries stratified by type (advanced, emerging, and developing economies). Using linear regression analysis, we will test if there is a meaningful relationship between changes in GDP and changes in oil prices.
Recommended Citation
Soh feussi, Ancel Raynaud, "Impact of Oil Prices Fluctuations on Economies in the Age of Globalization" (2013). Applied Economics Theses. 7.
https://digitalcommons.buffalostate.edu/economics_theses/7
