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Oil price movements and stock markets revisited: A case of sector stock price indexes in the G-7 countries

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  • Lee, Bi-Juan
  • Yang, Chin Wei
  • Huang, Bwo-Nung

Abstract

Applying sector stock prices and oil prices in 1991:01–2009:05 from the G7 countries we find oil price shocks do not significantly impact the composite index in each country. However, stock price changes in Germany, the UK and the US were found to lead oil price changes.

Suggested Citation

  • Lee, Bi-Juan & Yang, Chin Wei & Huang, Bwo-Nung, 2012. "Oil price movements and stock markets revisited: A case of sector stock price indexes in the G-7 countries," Energy Economics, Elsevier, vol. 34(5), pages 1284-1300.
    • Handle: RePEc:eee:eneeco:v:34:y:2012:i:5:p:1284-1300
    DOI: 10.1016/j.eneco.2012.06.004
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    More about this item

    Keywords

    Oil prices; Stock returns; Industry sectors; Sector stock return;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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