| Autor: |
Qian Shen, Mohammad Sogir Hossain Khandoker, Joti Saha, Rafiqul Bhuyan |
| Jazyk: |
angličtina |
| Rok vydání: |
2024 |
| Předmět: |
|
| Zdroj: |
International Journal of Economics and Financial Issues, Vol 14, Iss 6 (2024) |
| Druh dokumentu: |
article |
| ISSN: |
2146-4138 |
| DOI: |
10.32479/ijefi.17154 |
| Popis: |
This study aims to estimate the impact of crude oil price on the DSEX broad index of the Dhaka stock exchange using the Vector Error Correction Model (VECM) for the study period 2013:01-2022:12. It has decomposed the oil price shock into supply side and demand side oil shock. The empirical result shows that the stock price decreases significantly with crude oil prices driven by the shock in oil production. In contrast, the improvement in global economic activity results in a shock in the oil price which has a significant positive impact on the stock price. Furthermore, the accumulated shock in oil prices has a significant positive impact on stock prices. The variance decomposition under the VEC model shows that the demand shock of oil price contributes more to the variation in stock price for the oil-importing country Bangladesh. Since different oil price shocks have different impacts, the policy maker and investors implement decisions based on the understating of the sources of the shocks. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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