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EERC news
May 27, 2016
The 40th Anniversary Research Workshop was held in Kyiv School of Economics, Kyiv May 21 - 22, 2016.
December 15, 2015
Your idea could be the next winner of the Global Development Awards Competition 2016. Every year, GDN awards up to $US 90,000 worth of grants to research proposals and innovative development projects as part of the Global Development Awards Competition. The deadline for submitting the proposals is 15 January, 2016.
December 02, 2015
Cеминар будет проводиться в КШЕ в Киеве 117-18 декабря 2015 года.
August 05, 2015
The unique KSE MBA program efficiently combines a comprehensive approach to a real-life case learning, analytical methods for decision-making and is specifically designed to educate a new generation of business leaders on how to make the most out of opportunities the global markets offer. KSE MBA combines high academic standards of top EU and US business schools with practical real-life cases from top employers of Ukraine which constitute an essential part of the program curriculum.
Working paper info
16/06E
Oil and Growth Challenge in Kazakhstan
Title
Nurmakhanova Mira
Author
C. Macro, financial markets and open macroeconomy
Theme
Policy brief
2016-06-21
Date
Abstract:

CIS countries possess extensive natural resources and rely heavily on revenues from primary commodity exports, in particular petroleum and natural gas. We use Kazakhstan’s dependence on revenues from the oil sector to demonstrate commodity producer vulnerability to external commodity price fluctuations. The goal of this paper is to examine the nature of the relationship between real GDP, fiscal revenues, real exchange rate, price level, and oil prices. We employ Bayesian approach to time series data for the period 2000–2015. We find evidence of significant effect of oil prices on Kazakhstani economy where one of the key channels playing a role in the effect of oil prices on real activity is related to the real effective exchange rate. Additionally, results of this research indicate that one possible channel for oil price shocks to affect the real exchange rate is through the upward pressure on domestic price level.

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