The impact of oil price changes on selected macroeconomic indicators in Azerbaijan

Zulfigarov, Farid; Neuenkirch, Matthias

doi:10.1016/j.ecosys.2020.100814

Cited by 37 publications

(21 citation statements)

References 61 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In addition to drops in their gross domestic product (GDP), several countries, like Azerbaijan, have faced downturns in their oil and gas sectors, which consequently caused further downturns in the wider economy. In addition, in Azerbaijan, oil price developments have led to higher inflation and decreased consumption of goods and services [6,7].…”

Section: Introductionmentioning

confidence: 99%

What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior?

2021

View full text Add to dashboard Cite

Background: This study aims to examine how behavioral variables interact with and stimulate purchasing decisions and influence the process of purchasing healthy foods during the COVID-19 pandemic. Method: Principal component analysis was carried out on a sample of 100 consumers of healthy foods in Saudi Arabia, and this made it possible to adapt the items to the context of the study. Exploratory and confirmatory analysis with 360 people was carried out. Confirmatory factor analysis provided reliable and valid scales, and multivariate analysis using structural equations and binary logistic regressions made it possible to validate the hypotheses. Results: The intention to buy increased among consumers of healthy foods. Women were more anxious about the COVID-19 pandemic than men, and they took considerable precautions to avoid contamination. The fear of COVID-19 was also more intense among the elderly population than younger people. The respondents indicated reduced visits to shops, restaurants, and markets. Gender and age moderated the relationship between the fear of COVID-19 and purchasing intention. Consumption risk also negatively affected purchasing intention. However, buying experiences and intention to buy led to increased purchases of healthy foods compared to other goods.

show abstract

Section: Introductionmentioning

confidence: 99%

What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior?

2021

View full text Add to dashboard Cite

show abstract

“…Consumer perceptions of the price following the quality of the product obtained affect customer satisfaction and customer loyalty. 4 indicators can be used to measure price perceptions, including 1) price affordability, in the form of the price offered is a price that is following the purchasing power of consumers; 2) price suitability is related to the comparison of the price to the quality offered; 3) price competitiveness, namely the price given by the producer is a competitive price with products sold by other producers on the same type of product, and 4) the price offered is following the benefits that consumers can get from the products they buy (Kuuluvainen et al, 2021;Putra & Ekawati, 2017;Zulfigarov & Neuenkirch, 2020).…”

Section: Discussionmentioning

confidence: 99%

Price Analysis, Marketing Communication, and Brand on Costumer Loyalty

Pratiwi¹,

Purba²,

Han's³

et al. 2021

IJSSB

View full text Add to dashboard Cite

This study aims to test and analyze the influence of the test and analyze the influence of Price, Marketing Communication and Brand Loyalty of the Customers. The phenomenon of decrease in number of subscribers, the price of which is not optimal, marketing communication has not been satisfactory and brands that are less well interesting background of this research. The research method is quantitative approach, type of research is descriptive and quantitative nature of this research is descriptive explanatory. Data collection techniques using questionnaires, interviews and documentation studies. Methods of data analysis is multiple linear regression analysis. Sample collection techniques, namely simple random sampling. The research sample is 106 customer. The calculation results of testing the hypothesis means that the partial and simultaneous Price, Marketing Communication and Brand has positive and significant effect on Customer Loyalty.

show abstract

“…Iyke ( 2019 ) studied the uncertainty of crude oil prices and production output in Nigeria and reported that an increase in oil prices leads to decrease in the actual level of production. Zulfigarov and Neuenkirch ( 2020 ) studied the relationship between fluctuations in oil prices and economic activities in Azerbaijan by utilizing the vector autoregressive statistical model for the period 2002–2018. They revealed that innovation in oil prices leads to higher inflation, and other macroeconomic variables responded differently to price volatility.…”

Section: Literature Reviewmentioning

confidence: 99%

Macroeconomic effects of crude oil shocks: Evidence from South Asian countries

et al. 2022

View full text Add to dashboard Cite

This research tends to convey the relationship between crude oil price volatility and key macroeconomics indicators, i.e., gross domestic product (GDP), inflation rate (IR), interest rate, and exchange rate. The study collected the time-series data (2000–2020) from the South Asian countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka), and employed macroeconomic policy modeling tools (impulse response function and the prediction error variance decomposition technique) in the vector autorepression (VAR) setup. The outcome of the impulse response function explained considerable variance among macroeconomic indicators in response to crude oil price shocks. The macroeconomic indicators are extremely susceptible to minor fluctuations in oil prices causing a significant impact on the region's socioeconomic situation. The result of variance decomposition indicates that each country in the region reacts differently to crude oil price volatility which reflects their macroeconomics fundamentals, independent policy, sector structure, and country differences. The findings support change in public policies in a way to reduce their dependency on oil energy and encourage them toward renewal and green energy sources for better environmental results and sustainable development.

show abstract

The impact of oil price changes on selected macroeconomic indicators in Azerbaijan

Cited by 37 publications

References 61 publications

What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior?

What Have We Learned about the Effects of the COVID-19 Pandemic on Consumer Behavior?

Price Analysis, Marketing Communication, and Brand on Costumer Loyalty

Macroeconomic effects of crude oil shocks: Evidence from South Asian countries

Contact Info

Product

Resources

About