Oil Price Shocks and Stock Markets in Oil Importing Countries: Evidence from Egypt, Morocco, and Jordan
| Autor: | Stefano Miani, Demeh Daradkah, Josanco Floreani |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Jordan
HF5001-6182 stock markets returns business.industry jordan Causal relations Egypt Morocco oil price shocks Monetary economics Discount points General Business Management and Accounting Investment management Granger causality Economics Stock market Business Oil price business General Economics Econometrics and Finance Stock (geology) Impulse response health care economics and organizations |
| Zdroj: | Scientific Annals of Economics and Business, Vol 68, Iss 2, Pp 233-247 (2021) |
| Popis: | This study aims to investigate the dynamic relationship between Oil price Shocks and stock markets returns in Egypt, Morocco, and Jordan as oil-importing countries in the MENA region, over the period (2005-2018). Vector auto regressive regressions (VAR), Granger causality tests, and Impulse Response technique are employed to achieve the objectives of the study. Using weekly data, the results point to a causal relation flowing from oil prices to stock market returns in all the three countries under investigation although with different lags and different patterns of the response according to the impulse response function outcomes. These findings have important implications for academics, domestic and international investor, investment manager and policy makers. |
| Databáze: | OpenAIRE |
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