Influence of oil prices on stock market indexes in Russia and Norway

Autor:	I. A. Kopytin
Rok vydání:	2014
Předmět:	Macroeconomics Economics and Econometrics media_common.quotation_subject Monetary economics Norwegian Stock market index language.human_language Interest rate Exchange rate Us dollar Systematic risk Economics Spite language Oil price media_common
Zdroj:	Studies on Russian Economic Development. 25:99-110
ISSN:	1531-8664 1075-7007
Popis:	The effects of oil price dynamics on share quotations are discussed in the paper for the 2000–2012 period for two oil exporting countries—Russia and Norway. It has been shown, using a vector autoregressive model, that, in spite of intuitive expectations, oil prices have not been a systematic risk factor for Russian and Norwegian stock market indices. In Norway, share quotations definitely responded to the dynamics of the US dollar exchange rate relative to the world’s main currencies and the S&P 500 stock index, as well as to fluctuations in the global and domestic interest rates, although to a lesser degree. In Russia, share quotations are practically exclusively affected by their own shocks (a factor that is explained by some specific features characterizing Russia’s major public companies).
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::6d66920edb722a5bd95e2158716e5371 https://doi.org/10.1134/s1075700714010109 Zobrazit plný text záznamu Full text from SpringerLink