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This sharp increase in the world oil prices and the volatile exchange rates are generally regarded as the factors of discouraging economic growth. Oil price movements and the global economy: a model-based assessment selim elekdag, rene lalonde, douglas laxton, dirk muir, paolo pesenti nber working paper no 13792. Oil and world economy question: examine the oil industry in relation to the world economy, utilising any economic theory / theories you think appropriate. Free essay: the impact of opec on the world economy the organization of petroleum exporting countries, better known as opec, is one of the most recognized.
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