Economic and political impact of globalisation on the export operations of OPEC member countries Online publication date: Wed, 18-Jan-2023
by Ludmila Kharchenko; Larisa Efimovа; Yulia Loktionova; Eva Pugacheva; Evgenia Budko
International Journal of Trade and Global Markets (IJTGM), Vol. 16, No. 4, 2022
Abstract: Modern resource markets are globalised, which gives significant advantages to countries that own these resources. The proceeds from the sale of resources to global markets can serve as a financial phase for the implementation of important government development programmes in a country. The paper examines the influence of the economic and political aspects of globalisation on the export operations of OPEC and OPEC+ member countries. A statistical study of the dependence of export volume dynamics on the KOF Globalisation Index and its components was carried out, which made it possible to quantitatively assess the impact of political and economic globalisation on OPEC countries' exports by developing a mathematical model that would describe the relationship between these indicators. The OPEC and OPEC+ countries were grouped depending on those components of the globalisation indicator that affect export volumes, that is, according to the level of countries' involvement in globalisation.
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