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Impact Of Oil Prices Fluctuations On Economies In The Age Of Globalization, Ancel Raynaud Soh Feussi
Impact Of Oil Prices Fluctuations On Economies In The Age Of Globalization, Ancel Raynaud Soh Feussi
Applied Economics Theses
Early in the past century, oil has powered economic growth in industrialized economies. Towards the end of the 20th century, as emerging and underdeveloped economies relied more on oil powered means for their everyday need, their appetite for oil has considerably increased and this put an upward pressure on the global oil demand. As supply now struggles to match demand, oil prices are more and more driven by macroeconomics fundamentals. The disparity between supply and demand has had different effects on economies depending, if it is a net oil-exporting or net oil-importing one. This paper will attempt to quantify …