Oil Prices and Stock Markets: Further Evidence
from Newly Industrialized Countries
Oil Prices and Stock Markets: Further Evidence
from Newly Industrialized Countries
Author(s): Feyyaz Zeren, Hilmi Tunahan AkkuşSubject(s): Economy
Published by: EDITURA ASE
Keywords: Fourier causality; Maki cointegration; oil prices; share prices;
Summary/Abstract: In this paper, the relationship between stock prices and global oil prices in newly industrialized countries (Brazil, China, India, Malaysia, Mexico, Philippines, South Africa, Thailand, Turkey and Indonesia) has been investigated. Maki Cointegration (2012) and Enders-Jones (2015) Fourier Causality Tests were used in the study including oil prices and stock market data with different start dates. While the empirical findings differ from the country to the country in terms of the cointegration relation, there is a causality mainly from stock market to oil prices.
Journal: Management and Economics Review
- Issue Year: 3/2018
- Issue No: 1
- Page Range: 110-122
- Page Count: 13
- Language: English
