The current spike in oil prices has inevitably led to comparisons with other episodes when prices have surged over a relatively short period. The last five such episodes were all followed by global recessions. The more we look at these comparisons, the less relevant they seem today. Nonetheless, for some fragile economies – such as the UK and Japan – a longer period of high oil prices could be a tipping point.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services