1. Social consequences of the oil price shock in the resource rich post-soviet countries
- Author:
- CESD Research Team
- Publication Date:
- 12-2019
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- This study seeks to determine the impact the fall in global oil prices post-2014 had on the welfare of the populations of three resource-rich post-Soviet states: Russia, Kazakhstan, and Azerbaijan. Changes in welfare will be explored through the analysis of several socio-economic indicators affected by the local currencies’ devaluations. It will be suggested that the single-commodity export dependence of the countries concerned, and the domestic development of non-tradeable sectors faltered in the face of external shocks. Several policy suggestions are offered to mitigate the effects of the economic downturns observed.
- Topic:
- Oil, Gas, Exports, and Welfare
- Political Geography:
- Russia, Eurasia, Kazakhstan, and Azerbaijan