文章基本信息

标题：Oil Price Rise and the Great Recession of 2008
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作者：Mehdi Siamak MONADJEMI
期刊名称：Expert Journal of Economics
印刷版ISSN：2359-7704
出版年度：2017
卷号：5
期号：1
页码：14-19
语种：English
出版社：Sprint Investify
摘要：The financial crises of 2007-2008, caused wide-spread falling output and unemployment, in the affected countries and also globally. The severity of the recession was such that it was called the “Great Recession”. As a result of an increase in demand from China and India, at the same time, oil prices rose significantly. The empirical results from this study show that oil price changes negatively affected global growth rate in the 1970s but not in the 1990s and 2000s. These results suggest that the Great Recession in 2008 that initiated by the financial crises, was independent of a significant rise in oil prices.
关键词：demand and supply for oil; financial crises; global recession; impulse response function; oil price; oil price shock