Economics, Econometrics and Finance
3 years ago

Oil price fluctuations in Brazil linked to GDP growth and unemployment rates.

Business and Economics Journal
Oil Price and Brazilian Economic Indicators
Regina Meyer Branski

Paper Summary

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Oil prices impact Brazil's economy due to its significant oil reserves. A study analyzed 20 years of data to see how oil prices relate to economic indicators like GDP, Trade Balance, Inflation, Tax Collection, and Unemployment Rate. The study found that higher oil prices are linked to increased GDP and Tax Collection. Inflation and oil prices showed a weak negative correlation. Oil prices and unemployment had a moderate negative correlation, meaning higher oil prices could lead to lower employment. The relationship between oil prices and Trade Balance varied. Oil prices were found to cause changes in GDP, but there were no long-term relationships between oil prices and economic indicators.