The impact of international crude oil price fluctuation on the exchange rate of petroleum-importing countries: a summary of recent studies

2018 ◽  
Vol 95 (1-2) ◽  
pp. 227-239 ◽  
Author(s):  
Wei Qiang ◽  
Aimei Lin ◽  
Chao Zhao ◽  
Zhenhua Liu ◽  
Manzhi Liu ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Oil Price ◽  
Crude Oil Price ◽  
Price Fluctuation ◽  
The Exchange Rate ◽  
The Impact ◽  
Oil Price Fluctuation

Impacts of Falling Crude Oil Prices and Reduction of Energy Subsidies on the Indian Economy: A CGE Modelling Approach

2016 ◽  
Vol 20 (4) ◽  
pp. 345-360
Author(s):  
Amrita Ganguly ◽  
Koushik Das
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Oil Price ◽  
Cash Transfer ◽  
Crude Oil Price ◽  
Transfer Scheme ◽  
Indian Economy ◽  
Cge Modelling ◽  
The Impact ◽  
Energy Subsidy

This study analyzes the impacts of international crude oil fluctuations and energy subsidy (on LPG, petrol and diesel) removals on Indian economy. We have applied computable general equilibrium (CGE) modelling as our relevant methodology, following Shoven and Whalley ( J Econ Lit XXII: 1007–1051, 1984) based on energy social accounting matrix (ESAM) of India for the year 2007–2008. It is seen that the international crude oil price fluctuations has a greater effect in determining gross domestic product (GDP) and exchange rate as compared to the effect of energy subsidy removal. With decrease in international crude oil price, GDP increases and exchange rate appreciates. On the other hand, with decrease in energy subsidy, GDP decreases and exchange rate appreciates. Moreover, with introduction of direct cash transfer scheme in lieu of subsidy for LPG, it is seen that the impact on demand of LPG (substitution effect) is negligible indicating that LPG is an essential commodity.

scholarly journals Crude Oil Price Fluctuation Analysis Under Considering Emergency and Network Search Data

2020 ◽  
Vol 4 (12) ◽  
pp. 2000051
Author(s):  
Wan‐qiang Dai ◽  
Wei Pan ◽  
Yongdong Shi ◽  
Cheng Hu ◽  
Wulin Pan ◽  
...  
Keyword(s):  
Crude Oil ◽  
Oil Price ◽  
Fluctuation Analysis ◽  
Crude Oil Price ◽  
Price Fluctuation ◽  
Network Search ◽  
Search Data ◽  
Oil Price Fluctuation

scholarly journals Multi-Time Scale Spillover Effect of International Oil Price Fluctuation on China’s Stock Markets

Energies ◽  
2020 ◽  
Vol 13 (18) ◽  
pp. 4641
Author(s):  
Jingran Zhu ◽  
Qinghua Song ◽  
Dalia Streimikiene
Keyword(s):  
Crude Oil ◽  
Time Scale ◽  
Stock Markets ◽  
Spillover Effect ◽  
Oil Price ◽  
Time Varying ◽  
Price Fluctuation ◽  
The Impact ◽  
Oil Price Fluctuation

With the continuous increase of China’s foreign-trade dependence on crude oil and the accelerating integration of the international crude oil market and the Chinese finance market, the spillover effect of international oil price fluctuation on China’s stock markets increasingly attracts the attention of the public. In order to explore the impact of international oil price fluctuation on China’s stock markets and the time-varying spillover differences of industry sectors, this study proposes three research hypotheses and constructs a multi-time scale analysis framework based on wavelet analysis and a time-varying t-Copula model. In this paper, we use the Shanghai Composite Index as the representative of a general trend of the stock market, and we use the stock index of the China Securities Industry as the counterpart of industrial sectors. Based on the data from 5 January 2005 to 31 May 2020, this paper measures and analyzes the spillover effect of international oil price fluctuation on China’s stock markets, under different volatility periods. The results show that, firstly, the spillover effect of international oil price fluctuation on the Chinese stock markets is different. In the short and medium volatility period, the changes in international oil price are ahead of the changes in the Chinese stock markets, while the latter is ahead of the former under long-term fluctuations. Secondly, the spillover effect of international oil price fluctuation on China’s industry stock indexes is persistent. As the time scale increases, the tail dependency will increase. Finally, the impact of risk events aggravates the volatility of the stock markets in the short-term, while the mid- to long-term impact mainly affects the volatility trend. Investment risk control can make overall arrangement on the basis of the characteristics of oil price impact under different fluctuation stages.

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