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Energy, Environment, and Financial Markets Under the COVID-19 Pandemic

In: COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19

Author

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  • Hela Mzoughi
  • Christian Urom

Abstract

We examine the impact of COVID-19 pandemic on oil prices, CO2 emissions, and stock market volatility. We demonstrate that although the increasing number of COVID-19 infections caused a decrease in the price of crude oil, the negative response of the oil market is short-lived. However, the response of economic activities as measured by CO2 emissions persists. Also, we find a stronger impact on equity market volatility than on crude oil prices and CO2 emissions. Lastly, the share of error variance in CO2 emissions is stronger than that of the energy and stock markets. Taken together, our findings shed light on the depth of the impact of COVID-19 on the environment, and the energy and financial markets.

Suggested Citation

  • Hela Mzoughi & Christian Urom, 2021. "Energy, Environment, and Financial Markets Under the COVID-19 Pandemic," World Scientific Book Chapters, in: Khaled Guesmi (ed.), COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19, chapter 4, pages 43-54, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239618_0004
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    Citations

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    Cited by:

    1. Rui Dias & Nuno Teixeira & Paulo Alexandre & Mariana Chambino, 2023. "Exploring the Connection between Clean and Dirty Energy: Implications for the Transition to a Carbon-Resilient Economy," Energies, MDPI, vol. 16(13), pages 1-21, June.

    More about this item

    Keywords

    COVID-19; Vaccines; ANCOVA; Carbon Emissions; Natural Gas; Crude Oil; Market Co-Movement; Cryptocurrencies; CO2 Emissions; Financial Volatility; VIX; Bitcoin; Gold Oil Price War; Health Crisis; S&P GS Commodity Index; Consumption of Electricity; The Behavior of Electricity Consumption; Social Interactivity; Flow State; Energy Consumption Culture; Life Style; Teleworking; De-globalization; Eating Habits;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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