Oil prices impact Russian economy, exchange rate, and inflation rates significantly.
The study looked at how oil prices affect economic growth, exchange rates, and inflation in Russia from 1995 to 2014. They used different tests to analyze the data and found that oil prices not only impact economic growth but also influence exchange rates and inflation rates. The results show that oil prices, exchange rates, and inflation rates all have a causal relationship with GDP, affecting it in both the short and long term.