Gronwald, Marc; Mayr, Johannes; Orazbayev, Sultan - ifo Leibniz-Institut für Wirtschaftsforschung an der … - 2009
This paper explores the role of oil for the Kazakh economy. In order to assess thedegree of volatility the oil price features, it, firstly, discusses the literature on oil price behaviour. Secondly, it analyzes the effect of oil price declines on key macroeconomicvariables such as real GDP,...