Influence of International Crude Oil Price Fluctuations on the Shanghai Cooperation Organization Member Countries and Observer Countries
Available Online May 2016.
- https://doi.org/10.2991/icemc-16.2016.206How to use a DOI?
- Crude oil prices; PVAR; The Shanghai cooperation organization; Regional cooperation
- Based on the panel data of the Shanghai Cooperation Organization member countries and observer countries' economic growth and the exchange rate from 1994 to 2015, this paper established the panel vector auto regression model (PVAR), and analyzed how the international oil prices fluctuation affects he Shanghai Cooperation Organization member states and observer countries using impulse response and variance decomposition analysis. We found, in short-term, international oil prices promoted oil-exporting countries economic growth, and inhibited oil-importing countries. In the long term, the increasing oil prices will be beneficial to the SCO member countries on economic development. The Shanghai Cooperation Organization member countries and observer countries should expand cooperation and promote economic restructuring, in order to withstand the international crude oil market risks resulting from fluctuations.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Yu Wang PY - 2016/05 DA - 2016/05 TI - Influence of International Crude Oil Price Fluctuations on the Shanghai Cooperation Organization Member Countries and Observer Countries BT - Proceedings of the 2016 International Conference on Education, Management and Computer Science PB - Atlantis Press SP - 1050 EP - 1056 SN - 1951-6851 UR - https://doi.org/10.2991/icemc-16.2016.206 DO - https://doi.org/10.2991/icemc-16.2016.206 ID - Wang2016/05 ER -