Consequences of oil price plunges for the Kazakh economy and possible mitigation measures
The last oil prices plunge1, which started in June 2014, affected the world economies seriously. This dissertation addresses the reasons, which resulted in this situation on the world oil market. It then analyzes consequences for oil exporting and importing countries, opportunities and challenges and suggests proactive strategies that will help them to improve the situation prevalent after the sharp fall of crude oil prices of 2014. The world oil prices increased substantially in 2018, however, this increase (as all previous increases and decreases) is temporary as oil prices continue to be volatile. Therefore, this topic and the recommended measures remain important. This work is focusing on Kazakhstan. As additional examples it is also dealing with Azerbaijan as oil-exporting country and Turkey and China as oil-importing countries. Other countries are also considered, but to a lesser extent. As stated in the Research Plan the objective of the research is the preparation of development scenarios and recommendations for assisting government organizations of Kazakhstan in tackling the consequences of the oil crises. The author is of the view that the preparation of sound econometric models and development scenarios will help to better understand future consequences of oil price plunges for both oil-exporting and oil-importing countries. He is also inclined to believe that these models and scenarios will help in the development of proactive strategies of responding to such crises.
HF Commerce / kereskedelem, HJ Public Finance / államháztartás
Akhmedov, Erjan (2018) Consequences of oil price plunges for the Kazakh economy and possible mitigation measures. PhD thesis, Kaposvári Egyetem.
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