Oil Price Volatility and Latin American Growth

Serie

• Documentos de trabajo

Resumen

• Understanding the intricate relationship between oil price volatility and economic growth is essential for policymakers and investors seeking to develop effective policies to promote sustainable development and reduce vulnerabilities in the Latin American region. Our aim of this research paper was to analyze this relationship by accounting for the unique characteristics of the region, including both oil-producing countries and net oil importers, and comparing it with other regions worldwide. Our results revealed that the surge in oil prices following the pandemic has directly impacted the economic growth of Latin America. However, the economic growth of advanced economies has a more significant influence on Latin America's growth compared to that of other regions. Furthermore, we examined the potential implications of oil price volatility for inflation levels within countries, and we analyze the relationship between oil prices and the profitability of oil-producing firms based on microeconomic data, which elucidates the overall impact of oil price volatility on the region's economic growth.

autores

• Giraldo, Carlos
• Giraldo, Iader
• Turner, Philip

fecha de publicación

• 2024

Área temática

• F43 - Crecimiento económico de economías abiertas
• N16 - Macroeconomía y economía monetaria; Crecimiento y fluctuación económica: América Latina; Caribe
• Q02 - Mercados de productos básicos
• Q11 - Análisis de la oferta y de la demanda global; Precios

Enfoque geográfico

• Latinoamérica  Geographic Region

Líneas de investigación

• Commodities Market
• Economic Growth
• Latin America
• Oil Prices

Issue

• 21125