Abstract:
the main objective of this research is to study the role of economy to the
macroeconomic stability of the country. The paper analyzes and systematizes approaches to the
definition of ‘macroeconomic stability’ concept. The key factors that impact macroeconomic stability
are identified. In the framework of this research, the authors identify oil sector as one of the factors
affecting macroeconomic stability. To determine the strength and statistical significance of the above
mentioned relationship, the authors suggest presenting macroeconomic stability as a functional dependency between macroeconomic stability and the level of oil production, which is described by the following variables: the growth rate of money supply, investment and openness of the economy, fiscal decentralization.
