Effect of oil price change

Xem 1-11 trên 11 kết quả Effect of oil price change
  • This study is aimed at investigating the asymmetric effect of oil price change on inflation for Sub Saharan Africa (SSA) countries. Based on the findings from the dynamic heterogenous nonlinear panel ARDL estimation, a panel data representation of Shin et al. (2014), the long run asymmetric relationship exists between both oil price increase (op+) and decrease (op− ) and inflation for these countries. Nevertheless, the oil price increase tends to exert more effect on inflation than the oil price decrease.

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  • The aim of the study is to find the empirical analyses of the impact of oil price fluctuation on the monetary instrument in Nigeria, by looking at their relationships. Specifically, we analyzed the role of Exchange rate, Inflation, Interest rate and how they respond to shocks in oil price. We explored the frequently used Toda–Yamamoto model (TY), by adopting the TY modified Wald (MWALD) test approach to causality, forecast error variance decomposition (FEVD) and impulse response functions (IRFs).

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  • In the most recent crude oil price fluctuation in the 2015 - 2017 period, when the average price was around USD 47 per barrel, the oil and gas industry witnessed many players imperatively conducting various synthetic and systematic measures in an effort to withstand the effects.

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  • . In this study, the long-term relationship between the changes in oil prices and industrial production in the ten most oil-importing countries (China, Germany, India, Italy, Japan, Netherlands, South Korea, Spain, United Kingdom and United States) was analyzed by Pedroni, Kao and Johansen Fisher cointegration tests. According to the empirical findings of the study, it is concluded that the relationship between the industrial production of oil importing countries and oil prices is positive.

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  • However, less attention has been paid to smaller emerging markets, especially in the GCC countries where share dealing is a relatively recent phenomenon. Using VAR models and cointegration tests, Hammoudeh and Eleisa (2004) show that there is a bidirectional relationship between Saudi stock returns and oil price changes. The findings also suggest that the other GCC markets are not directly linked to oil prices and are less dependent on oil exports and are more influenced by domestic factors. Bashar (2006) uses VAR analysis to study the effect of oil price changes on GCC....

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  • Most of the studies regarding the effects of oil price shocks on financial markets have revolved around developed countries such as the United States and west European countries. These countries are not only large but, consequently, influential on the overall performance of financial institutions around the world. Turkey has always been considered a unique country not only because of its geographical location, but also its dynamically changing economic structure. Especially recently, significant amounts of foreign capital have been flowing into the Turkish financial sector.

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  • This paper investigates the volatility transmission effect and conditional correlations among crude oil, stock market and sector stock indexes in Saudi Arabia. Using daily data from January 3, 2009 to March 21, 2012 and VAR-BEKK specification, we find significant volatility transmission between oil prices and Saudi stock market. Furthermore, our findings show that sector stock returns significantly react to oil prices changes. In addition, except telecom sector, the results show the presence of volatility transmission between stock market and sector stock market returns.

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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.

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  • In this paper, using data spanning from January 2000 to September 2019, we applied asymmetric and partial structural change models to examine the impact of oil price on food prices in Nigeria. Results from the asymmetric model showed that positive margins in crude oil price reduce the price of food, while negative margins co-move with food price in the long-run. The story is different in the short-run, where both positive and negative changes in oil price exert positive effects on food price.

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  • This article contributes to the literature by investigating whether or not oil price changes have significantly affected stock market returns in the last years. In fact, during these years price volatility for both crude oil and related products has been great. Unlike most previous papers, which focus on the U.S., European and major Asian stock markets, our paper analyses the impact of oil price fluctuations on Gulf Corporation Council (GCC) markets. These markets are interesting for several reasons. First, GCC countries have attracted increasing attention in recent years.

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  • They found that for the US and Canada this reaction can be accounted for entirely by the impact of the oil shocks on cash-flows. The results for Japan and the UK were inconclusive. Using an unrestricted vector autoregressive (VAR), Huang et al. (1996) show a significant link between some American oil company stock returns and oil price changes. However, they find no evidence of a relationship between oil prices and market indices such as the S&P500.

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