Economic Analysis: Theory and Practice

Models of hydrocarbon markets development in emerging economies

Vol. 17, Iss. 4, APRIL 2018

Received: 27 December 2017

Received in revised form: 23 January 2018

Accepted: 5 February 2018

Available online: 27 April 2018


JEL Classification: F01, F43, F63

Pages: 637–651

Kosov M.E. Financial University under Government of Russian Federation, Moscow, Russian Federation

ORCID id: not available

Subject The article addresses the models of hydrocarbon market development in emerging economies. It includes a tactical area that relates to permanent use of resources available in the country, and a strategic area that relates to stock accounting inclusive of proven fields.
Objectives The purpose of the study is to disclose tactical, strategic and integral dependence of the Russian economy on oil, gas and coal production.
Methods I employ the methods of extrapolation, comparison, systematization, and econometric analysis.
Results I suggest using the indicators of tactical, strategic and integral dependence of the national economy on natural resources, which include oil, gas and coal. The findings may be helpful for monitoring the resource dependence of Russia and other developing countries.
Conclusions The paper offers a procedure for weighing individual resource characteristics that will enable a more accurate forecasting of the national economy development.

Keywords: emerging economies, development strategy, coal mining, oil and gas exports, budget


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