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The study found out that the long term relationship exists between the variables. We have also identified that all the countries react differently to the fluctuations in Oil prices. But interestingly China and India share some commonalities in terms of reacting to the changes in Crude Oil prices. Additionaly we have also found that fluctuations in the Oil price effect Trade Openness in every country under study except Russia. | Relationship between crude oil prices and macro-economic variables Evidence from BRICS countries tailieu.vn - _vars.push document.write
