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Interrelationship between crude oil and the stock markets of major demanders and suppliers in emerging and developed markets

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  • Murad A. Bein

Abstract

This paper investigates the time-varying relationship between the stock markets of advanced and emerging oil-exporting and oil-importing countries and the international crude oil price indices. The results reveal that the time-varying among the oil-exporting and oil-importing countries responds similarly to aggregate supply- and demand-side effects. Oil-exporting countries have a slightly higher integration with the oil markets, while oil supply shocks have a slightly higher impact on emerging oil-exporting countries. The oil markets exhibit a lower time-varying relationship with the Asia-Pacific oil-importing markets, which indicates those markets may be attractive to investors during periods of turbulence in the oil market.

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  • Murad A. Bein, 2019. "Interrelationship between crude oil and the stock markets of major demanders and suppliers in emerging and developed markets," Applied Economics Letters, Taylor & Francis Journals, vol. 26(15), pages 1247-1252, September.
    • Handle: RePEc:taf:apeclt:v:26:y:2019:i:15:p:1247-1252
    DOI: 10.1080/13504851.2018.1545071
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    Cited by:

    1. Onour , Ibrahim A., 2021. "Modeling and assessing systematic risk in stock markets in major oil exporting countries," Economic Consultant, Roman I. Ostapenko, vol. 35(3), pages 18-29.

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