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1

DO OIL PRICES DEPEND ON THE VALUE OF US DOLLAR ?

100%
Obadi S. M.
Ekonomický časopis (Journal of Economics)
|
2006
|
vol. 54
|
issue 3
253-265
EN
This paper deals with oil prices and with their relation on the value of US dollar, and draws some conclusions about their correlation. The author used the annual figures for the main world currencies and oil prices, obtained from many different sources. International commodity prices are mostly expressed in dollars, especially oil prices, or in the terms of the indices based on dollar prices. The oil prices are obviously affected by the inflation and also by the value of the US dollar exchange rate. There is a definite link between the monetary policy, the exchange rates and the other factors and the oil prices, which is analyzed in this paper.
2

IMPACT OF OIL PRICES ON SOVEREIGN FUNDS (THE ASSETS AND INVESTMENTS)

100%
Pauhofová I., Svocáková S.
Ekonomický časopis (Journal of Economics)
|
2016
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vol. 64
|
issue 1
37 – 55
EN
The contribution is aimed at detecting how changes in oil prices influenced the development of assets of the oil sovereign funds, which countries possessing sovereign funds have been most affected, and whether and how changes in oil prices affected the foreign direct investments made by countries with the sovereign wealth funds. Analytical apparatus use the officially available data for oil prices, import, export, FDI and assets and investments of sovereign funds from SWF Institute. The causality between oil prices and annual growth of sovereign funds wealth in Kazakhstan, Norway and Russia has been confirmed. Shock in oil prices had the greatest impact on the value of assets in Russian sovereign wealth funds, then the SWF of Kazakhstan and the least impact had been observed upon Norwegian SWF. In the case of Russia, the shock in oil prices has had a long lasting effect. Saudi Arabia does not suffer from the low oil prices and it does not affect the principles of its investment decisions.
3

VPLYV OSLABENÉHO DOLÁRA NA ZMIERNENIE DOPADU VYSOKÝCH CIEN ROPY: IMPLIKÁCIE PRE EKONOMIKY SLOVENSKEJ REPUBLIKY A ČESKEJ REPUBLIKY

75%
Obadi S. M.
Ekonomický časopis (Journal of Economics)
|
2008
|
vol. 56
|
issue 5
515-525
EN
This paper examines the causes and conditions which led to the rising oil prices in the international markets. Oil prices are influenced by many factors like supply and demand, political stability, particularly in the oil producing countries, the value of US dollar against famous world currencies and the factor of psychology in the oil market etc. The special attention is paid to the weakness of US Dollar against the world currencies and particular against the Slovak and Czech Crowns and its effect on alleviation the impact of high oil prices on consumers of fuels and on economies of both countries at all. By the statistical calculation it was proved, that the appreciation of the Slovak and Czech Crowns against the US Dollar have absorbed substantially the high prices of crude oil in both Slovak and Czech countries.
4

HOW DO OIL PRICE CHANGES AFFECT THE CURRENT ACCOUNT BALANCE? EVIDENCE FROM CO-INTEGRATION AND CAUSALITY TESTS

75%
Turan T., Karakas M., Ozer H. A.
Ekonomický časopis (Journal of Economics)
|
2020
|
vol. 68
|
issue 1
55 – 68
EN
This paper examines the relationship between the global oil prices and current account balances in Czech Republic, Hungary, and Poland by using ARDL and causality analysis. Our estimates indicate that there is a co-integrating relationship among the global oil price, current account balance, GDP growth rate, and real exchange rate in the sample countries. We find that a change in oil price has a significant effect on the current account balance in Poland and Czech Republic. Additionally, our results suggest that a change in the growth rate exerts a significant effect on the current account in these two countries. Moreover, there is a causal relationship running from the oil prices to current account balances in all sample countries in the short run. Furthermore, it seems that the growth rates Granger cause the current account in Czech Republic and Hungary in the short run. Finally, we also detect a long run and strong causality between variables in some cases.
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