Commodity Prices and Economic Growth across Countries

Commodity Prices and Economic Growth across Countries
Issues:
Most recently, there has been a remarkable fall in the energy and commodity prices. Many have been debating the possible explanation for this phenomenon, whether the low prices will persist, and most importantly the possible impact on different countries, in particular commodity exports. The project may push up/down their prices in the future, and using time series models (for instance VARs0 assess how economic activity and/or key indicators across different countries depend on the energy/commodity prices, in particular major oil exporters and possibly vulnerable/sensitive and possible impact of prolonged low prices.
Select Reading:
Alghalith, M., (2010). The interaction between food prices and oil pierces. Energy Economics,32, 1520-1522.
Jimenez-Rodriguez*,R., & Sanchez, M. (2005). Oil price shocks and real GDP growth: empirical evidence for some OECD countries. Applied Economics, 37(2),201-228.
Data sources: Datastream

Personal requirement:
Use data from year 2000 to 2015 of at least 6 European countries.
Use VAR methods.
Show the procedure of processing the data (it is required by the tutor.)
One page summary to the tutor.

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