oil shock

The Russian Federation, as an energy-oriented and developing country, has suffered a great large-scale damage under the influence of COVID-19. In the economic and political spheres, the Russian government has adopted various  strategies to reduce the negative effects exerted by the pandemic. On the other hand, Russia is known as the first country to unveil and offer the first Coronavirus vaccine. At the same time, however, the policies pursued by the Russian government have been criticized. This study tries to measure the impact of the pandemic as an exogenous shock on important Russian economic variables. The main question in this study is what effect has the Corona epidemic had on the Russian economy? To answer to this research question, correlation analysis was used to evaluate the relationship between different variables and the number of deaths because of Coronavirus. According to the results of this study, the Coronavirus has affected the process of all Russian economic variables except for economic growth. This highlights the necessity of the implementation of exact plans and policies to maintain a stable economic recovery in the post-COVID era in this country.

The oil price fluctuations are a debatable issue among scholars. Understanding the appropriate utilization of underground resources is paramount, considering their abundance and historical significance as a crucial source of financial income for Iran. However, oil shocks pose challenges to petroleum exporting nations due to fluctuating oil prices and their reliance on the global economy. This study employs Econometrics models and auto-regression analysis to investigate whether oil shocks significantly affect sustainable development in OPEC countries during 2000-2019. Findings reveal a 'resource curse' affecting the analyzed nations, with rising oil prices having no substantial impact on their gross domestic product. Furthermore, increased oil revenues drive inflation, impeding urbanization and exacerbating inequality (Gini coefficient), indicative of the 'Dutch disease phenomenon. In conclusion, policymakers should prioritize the economy's size and reduce investment risks by formulating attainable long-term plans concentrated on sustainable development indicators, aiming for more stable progress. Oil shocks notably influence the sustainable development of petroleum-exporting countries.