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@inproceedings{1318661,
author = {Urbanovský, Tomáš},
address = {AMSTERDAM},
booktitle = {4TH WORLD CONFERENCE ON BUSINESS, ECONOMICS AND MANAGEMENT (WCBEM-2015)},
doi = {http://dx.doi.org/10.1016/S2212-5671(15)00827-8},
editor = {Bektas, C},
keywords = {ruble exchange rate; oil price; depreciation; cointegration analysis},
howpublished = {elektronická verze "online"},
language = {eng},
location = {AMSTERDAM},
pages = {242-248},
publisher = {ELSEVIER SCIENCE BV},
title = {Factors behind the Russian Ruble Depreciation},
year = {2015}
}
TY - JOUR
ID - 1318661
AU - Urbanovský, Tomáš
PY - 2015
TI - Factors behind the Russian Ruble Depreciation
PB - ELSEVIER SCIENCE BV
CY - AMSTERDAM
KW - ruble exchange rate
KW - oil price
KW - depreciation
KW - cointegration analysis
N2 - The primary cause of recent Russian economic downturn is the decline in global oil prices, which led to the currency crisis in Russia. However, other factors, which might have considerable effects on ruble exchange rate, are overlooked - for example changes in gold and gas prices, Russian interest rates, development of stock market and last but not least development of the USD exchange rate itself. A close relationship among these variables may be suspected. The purpose of this article is to discover this relationship and determine the impact of these variables on changes in the ruble exchange rate with the aid of cointegration analysis. It has been found out that besides the decline of the oil price, also decline of gold price, rise of stock market, increase in interest rates and appreciation of USD played a significant role in depreciation of ruble. (C) 2015 The Authors. Published by Elsevier B.V.
ER -
URBANOVSKÝ, Tomáš. Factors behind the Russian Ruble Depreciation. Online. In Bektas, C. \textit{4TH WORLD CONFERENCE ON BUSINESS, ECONOMICS AND MANAGEMENT (WCBEM-2015)}. AMSTERDAM: ELSEVIER SCIENCE BV, 2015, s.~242-248. ISSN~2212-5671. Dostupné z: https://dx.doi.org/10.1016/S2212-5671(15)00827-8.
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