In oil exporting countries, especially OPEC members, oil price fluctuation has significant impacts on their economies. Herein, just a drop in the oil price causes directly many adverse effects, such as inflation, falls in economic growth, and increases in unemployment. However with a country which not only exports crude oil but also imports petroleum as Vietnam, it is not easy to determine falling or a rising oil prices is beneficial to the economy. Therefore, this paper aims to carry out a numerical analysis on the influences of oil prices on the macroeconomic variables of Vietnam, including inflation, growth rate, budget deficit and unemployment, during a period from 2000 to 2015. By using a vector auto regression model, it is realized that a rise in oil prices would lead to higher inflation and budget deficit in Vietnam while its impacts on the gross domestic product growth and unemployment are unclear.
|APA||Trang, N. T. N. (2017). The impact of oil price on the growth, inflation, unemployment and budget deficit of Vietnam. (Journal Article). https://www.econjournals.com/index.php/ijeep/article/view/4521/2991|
|MLA||Nguyen Thi Ngoc Trang. The impact of oil price on the growth, inflation, unemployment and budget deficit of Vietnam. 2017. EConJournals. Journal Article. https://www.econjournals.com/index.php/ijeep/article/view/4521/2991|
|Chicago||Nguyen Thi Ngoc Trang. "The impact of oil price on the growth, inflation, unemployment and budget deficit of Vietnam. "(Journal Article, EConJournals, 2017)|