THE INFLUENCE OF MONETARY POLICY ON THE FORMATION OF OIL PRICES
Journal Title: Journal of Economic Research & Business Administration - Year 2024, Vol 148, Issue 2
Abstract
The relationship between monetary uncertainty and price volatility in the global crude oil market has attracted considerable attention in recent years. Understanding this relationship is extremely important for both policy makers and market participants and investors. The purpose of this article is to explore a modern approach to regime switching in order to shed light on the dynamic interaction between monetary uncertainty and price volatility in the crude oil market. If we consider that oil is one of the main sources of energy in the world, and the price of oil plays an important role in the global economy, then the formation of oil prices depends on many factors, including supply and demand, political stability in the production regions, geopolitical events, climate change and, of course, monetary policy. The scientific significance of the article lies in the fact that it allows for a deeper understanding of the relationship between the economic policy of central banks and the dynamics of commodity prices. The practical significance lies in the fact that understanding the impact of monetary policy on oil prices can be useful for both government agencies and businesses. In this research methodology, an empirical method of work was used, in which the influence of monetary uncertainty on the volatility of world crude oil prices was considered. We also touch upon the issue of political uncertainty on the price of oil during the pandemic. The relevance of this article lies in the fact that the price of oil is one of the key indicators for the global economy, the study of the impact of monetary policy on this market is important. The price of oil can influence monetary policy in various ways. For example, changes in the interest rates of central banks affect investors and their decisions to invest in oil companies. In addition, monetary policy also affects the exchange rate, which also has an impact on the price of oil. In conclusion, it can be said that studying the impact of monetary policy on oil prices is important for both science and practice, and may lead to the development of more effective methods of economic and business management.
Authors and Affiliations
Zh. S. Karabaeva, Y. S. Oskenbaev , L. A. Baibulekova, L. S. Nurmuratova
Keywords
Related Articles
- EP ID EP740524
- DOI 10.26577/be.2024-148-b2-04
- Views 39
- Downloads 1
BIBLIOMETRIC ANALYSIS OF RESEARCH ON PUBLIC ADMINISTRATION REFORM
This article complements the initial studies based on bibliometric analysis. The relevance of bibliometric analysis is the study of a large amount of data in scientific research. The purpose of the study is to conduct a...
ENVIRONMENTAL AUDIT, AS THE MAIN TOOL FOR IMPROVING AND PROTECTING THE ENVIRONMENT
Environmental concerns are getting more evident in the context of establishing commercial links. In particular, the nature users themselves, governmental institutions, and private and public organizations that exert cont...
Assessment of the role of innovative activity as a method of increasing the financial performance of an enterprise (on the example of textile industry enterprises)
This article analyzes the indicators of economic and innovative activity of all enterprises, including enterprises of the textile industry of the Republic of Kazakhstan, and also the volume of services for financing ente...
FINANCIAL STABILITY OF KAZAKHSTAN CITIZENS: EMPLOYMENT SHOCK AND CONSUMPTION CORRECTION
Consumer spending represents one of the key drivers of economic growth in any country. In recent years, the share of real consumption expenditures in the aggregate income of Kazakhstan residents tends to gr...
PROBLEMS AND WAYS TO IMPROVE THE EFFICIENCY OF THE KAZAKHSTANI MODEL OF HEALTH CARE FINANCING BASED ON CHI
In the article, the authors substantiate the relevance of the Kazakh model of health insurance, built on a combination of compulsory health insurance (CHI) and the system of budget financing. The purpose of the study is...