IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-030-92957-2_3.html
   My bibliography  Save this book chapter

Crude Oil Prices, Exchange Rates, Stock Markets and Industrial Production Relationships in Emerging Markets

In: Applications in Energy Finance

Author

Listed:
  • Sibel Soylu

    (Turkish Airlines INC
    Middle East Technical University)

  • İlkay Şendeniz-Yüncü

    (Middle East Technical University)

  • Uğur Soytaş

    (Middle East Technical University
    Technical University of Denmark)

Abstract

The aim of this paper is to examine the relationship between exchange rates, real stock returns, crude oil prices, and industrial production levels for emerging countries. Toda Yamamoto Augmented VAR for Granger non-causality methodology is implemented to determine the linkages and make inferences about the results. Monthly data is used covering the period between January 1990 and December 2016 to determine the direction of the causality between variables. Our results show that there exists a significant causal relationship between production and crude oil prices. It is also observed that causality from exchange rates to manufacturing indices can be used to explain the economic dynamics of emerging countries. Weak causal linkage from stock market returns to industrial production is found for emerging countries, and it is unidirectional.

Suggested Citation

  • Sibel Soylu & İlkay Şendeniz-Yüncü & Uğur Soytaş, 2022. "Crude Oil Prices, Exchange Rates, Stock Markets and Industrial Production Relationships in Emerging Markets," Springer Books, in: Christos Floros & Ioannis Chatziantoniou (ed.), Applications in Energy Finance, chapter 0, pages 55-83, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-92957-2_3
    DOI: 10.1007/978-3-030-92957-2_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-030-92957-2_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.