The effects of oil price changes on the economies of developing countries

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dc.contributor.advisorNadasi, Levente
dc.contributor.authorNambuya, Suzan
dc.contributor.departmentDE--Gazdaságtudományi Kar
dc.date.accessioned2023-12-14T12:41:27Z
dc.date.available2023-12-14T12:41:27Z
dc.date.created2023-10-25
dc.description.abstractThe study’s main objective was to identify the effects of oil price change on the economies of developing countries with case studies from Ghana, Kenya, Nigeria, South Africa, and Uganda with emphasis on GDP and inflation. Oil being a main input for various production processes like transportation, also known as Black liquid gold. Oil price however is not fixed as it is affected by demand and supply which makes it very volatile. Developing countries that export oil are dependent on oil revenues to power their economies while those that import oil are dependent on it as a main input to fuel their activities. With the use of the following variables: real crude oil prices, GDP growth rates and inflation rates, the relationship between the oil price change and economics of the developing was studied. The results from the correlation and linear regression showed that there is a possible relation between the variables with an increase in oil causing either a decrease in GDP or inflation depending on the country.
dc.description.courseBusiness Administration and Management
dc.description.degreeBSc/BA
dc.format.extent48
dc.identifier.urihttps://hdl.handle.net/2437/363139
dc.language.isoen
dc.rights.accessHozzáférhető a 2022 decemberi felsőoktatási törvénymódosítás értelmében.
dc.subjectOil price changes
dc.subjectDeveloping Countries
dc.subjectGross Domestic Product
dc.subject.dspaceDEENK Témalista::Közgazdaságtudomány
dc.titleThe effects of oil price changes on the economies of developing countries
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