Dynamic linkages between international oil price, plastic stock index and recycle plastic markets in China

This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (USD exchange rate), oil price (crude palm oil) and money supply (M2) on frontier market Islamic index (FMII). This study employs Fixed Effect (FE) model of 17 countries listed under FMII. The study cover a ten (10) years period from 2008 until 2017. The study have shown significant relationship between inflation, money supply and exchange rate with FMII and managed to reject null hypotheses for the three variables. Inflation and exchange rate is negatively related with FMII while money supply, gross domestic product and oil price is positively related to FMII. However, the study fails to find any significant relationship between gross domestic product and oil price with FMII. The findings of this study will provide better understanding on the frontier market and helps to improve their performance. Therefore, it can encourage countries in frontier market to be able to compete and achieve similar advancement as countries in developed and emerging market did.

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OIL PRICE FLUCTUATIONS AND STOCK MARKET BEHAVIOR IN A RESOURCE-DOMINANT ECONOMY: CASE OF KAZAKHSTAN

The Singapore Economic Review ◽

10.1142/s0217590820430055 ◽

2020 ◽

pp. 1-25

Author(s):

MOLDIR MUKAN ◽

YESSENGALI OSKENBAYEV ◽

NIKI NADERI ◽

YERGALI DOSMAGAMBET

Keyword(s):

Stock Market ◽

Aggregate Demand ◽

Price Volatility ◽

Oil Prices ◽

Oil Price ◽

Stock Index ◽

Stock Market Index ◽

Oil Price Volatility ◽

Positive Shock ◽

The Impact

During the past 10 years, the oil market has been very unpredictable and volatile, which created uneasy conditions for market participants. The remedy of increasing oil prices is considered as a positive factor for the economy of the Republic of Kazakhstan as an oil-exporting country. Using structural decomposition of vector autoregression (VAR), this study aims to examine how the whole financial system in Kazakhstan is depending on oil prices. The results suggest that the strongest factor affecting the stock index is aggregate demand, and the impact of oil production shocks on the equity market is, on average, insignificant. Such shocks can be discounted while a fall in oil prices affects financial conditions as a whole, damaging the solvency of Kazakhstan, an oil-exporting country. With the positive shock of aggregate demand, the stock market index tends to rise. There is also an effect of oil price volatility on changes in currency value, which also influences the financial situation of the country. Moreover, oil-exporting countries such as Kazakhstan can secure and support their economies with the help of “stable aggregate demand”. The focus on Kazakhstan as one of the oil-producing countries is interesting for at least two reasons. Importantly, oil-exporting countries supply oil to really strong countries concentrating on manufacturing and other industries. Besides, this study provides useful insights for countries with similar economic conditions, including similar stock market development.

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The effects of terrorism and war on the oil price–stock index relationship

Energy Economics ◽

10.1016/j.eneco.2013.09.006 ◽

2013 ◽

Vol 40 ◽

pp. 743-752 ◽

Cited By ~ 54

Author(s):

Christos Kollias ◽

Catherine Kyrtsou ◽

Stephanos Papadamou

Keyword(s):

Oil Price ◽

Stock Index

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Analysis of Macroeconomic Variables and Fundamental Analysis of Indonesia Shariah Stock Index (ISSI)

International Journal of Seocology ◽

10.29040/seocology.v1i01.1 ◽

2019 ◽

Author(s):

Amru Sukmajati ◽

Dyah Ayu Fitri Hastuti

Keyword(s):

Regression Analysis ◽

Quantitative Method ◽

Stock Exchange ◽

Oil Price ◽

Stock Index ◽

Fundamental Analysis ◽

Return On Equity ◽

Macroeconomic Variables ◽

Equity Ratio ◽

Time Sequences

This study atempts to analyze the effect of domestic macroeconomic variables: Inflation and BI Rate; global macroeconomic variables: World Oil Price (WTI); and financial ratios by using fundamental analysis: Earning Per Share (EPS), Price to Earning Ratio (PER), Debt to Equity Ratio (DER), dan Return On Equity (ROE) against Indonesia Sharia Stock Index (ISSI). This study uses quantitative method with multiple linier regression analysis with quarterly time sequences from the 1st quarter of 2011 to the 4th quarter of 2016. The data obtained from Dunia Investasi, Bank Indonesia’s Report, Economagic, and Indonesia Stock Exchange. The sample was taken using purposive sampling and data was collected by recording techniques. The result of this study shows that all variables are influential where ISSI is negatively affected by World Oil Price (WTI), and positively affected by Inflation, BI Rate, EPS, PER, DER, and ROE.

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PENGARUH VARIABEL MAKROEKONOMI DAN INDEKS SAHAM INTERNASIONAL TERHADAP INDEKS SAHAM JAKARTA ISLAMIC INDEX (JII)

Jurnal Ekonomi Syariah Teori dan Terapan ◽

10.20473/vol6iss201912pp2381-2392 ◽

2020 ◽

Vol 6 (12) ◽

pp. 2381

Author(s):

Devi Rahmiyanti ◽

Bayu Arie Fianto

Keyword(s):

Exchange Rate ◽

Crude Oil ◽

Gold Price ◽

Oil Price ◽

Stock Index ◽

Crude Oil Price ◽

Correction Model ◽

Monthly Data ◽

Macroeconomic Variables ◽

Long Run

This study investigate the effect of macroeconomic variables and international stock index on the stock index Jakarta Islamic Index (JII) using monthly data over period January 2013 to December, 2018. Macroeconomic variables used in this study are inflation, exchange rate, international crude oil price, World Gold Price and for the international stock index using Dow Jones Islamic Market. The study employs the eror correction model (ECM). The empirical result reveal that there is co-integration between the four macroeconomic variables, one international stock index and stock index in Jakarta Islamic Index indicating long run equilibirium relationship. Furhther, the result reveal that with significancy 0,5% only exchange rate, international crude oil price, world gold price had significant effect on Jakarta Islamic Index while inflation and Dow jones Islamic Market did not have a significant effect on Jakarta Islamic Index.Keywords: The stock Index, the Jakarta Islamic Index, the macroeconomic variables

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THE IMPACT OF OIL PRICE AND OTHER MACROECONOMIC VARIABLES ON THE ISLAMIC AND CONVENTIONAL STOCK INDEX IN INDONESIA

International Journal of Energy Economics and Policy ◽

10.32479/ijeep.10911 ◽

2021 ◽

Vol 11 (5) ◽

pp. 418-424

Author(s):

Muhammad Syafii Antonio ◽

Aam S. Rusydiana ◽

Wahyu Sugeng Imam Soeparno ◽

Lina Nugraha Rani ◽

Wahyu Ario Pratomo ◽

...

Keyword(s):

Oil Price ◽

Stock Index ◽

Macroeconomic Variables ◽

The Impact

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PENGARUH VARIABEL MAKROEKONOMI TERHADAP JAKARTA ISLAMIC INDEX PERIODE 2011-2018

Jurnal Ekonomi Syariah Teori dan Terapan ◽

10.20473/vol6iss20199pp1894-1908 ◽

2020 ◽

Vol 6 (9) ◽

pp. 1894

Author(s):

Syafrina Hidayati ◽

Puji Sucia Sukmaningrum

Keyword(s):

Exchange Rates ◽

Significant Influence ◽

Industrial Production ◽

Oil Price ◽

Stock Index ◽

Energy Information Administration ◽

Production Index ◽

Industrial Production Index ◽

Analysis Technique

This research aims to determine the effect of Macroekonomic Variables against the sharia stock index, Jakarta Islamic Index . the approach used is quantitative by using the Vector Error Correction Model (VECM) analysis technique with the STATA program.While the Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index and Oil Price as dependent variables and Jakarta Islamic Index (JII) as the independent variable.Secondary data are used in this research from the official website Badan Pusat Statistik, Bank Indonesia, U.S Energy Information Administration(EIA) and yahoofinance. The result of the research shows that in the short term, Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index and Oil Price have no significant influence against Jakarta Islamic Index. While in the long term, Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index have signicant influence against Jakarta Islamic Index. Oil price in the long term has no significant influence against Jakarta Islamic Index

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Linkages Between Brent Oil Price And Iran Stock Market: New Evidence From The Corona Pandemic

10.21203/rs.3.rs-409534/v1 ◽

2021 ◽

Author(s):

Vida Varahrami ◽

Masoumeh Dadgar

Keyword(s):

Stock Market ◽

Oil And Gas ◽

Causal Effect ◽

Oil Prices ◽

Jel Classification ◽

Oil Price ◽

Stock Index ◽

Impulse Response Functions ◽

Stock Market Index ◽

Market Index

Abstract This article reviews the relationship between the oil market and the stock market during the Corona outbreak. This study aims to analyze the stock market and the effect of oil prices on this market during the corona pandemic. The hypothesis of this paper is whether while oil prices shocks happen due to business cycle fluctuations and some other reasons like political reasons, occur; The correlations between changes in Brent oil prices and stock market indices tend to be affected by named corona indexes. Forecasting the stock market in each period has been difficult and the value of stock index has been affected by various factors. Among these factors has been the oil and gas sector, especially in countries dependent on the revenue from their sales. On the other hand, the outbreak of Covid-19 pandemic has led to profound changes in both areas. This study examines relationship between Brent oil price and Iran stock market Index during the outbreak of corona pandemic. Research method is, vector autoregression model (VAR) which using daily data covering the period from February 20, 2020 to August 21,2020. The findings of this study suggest that a negative causal effect from Brent oil price changes to the Iran stock market Index. Also, the results of impulse response functions and variance decompositions showed that some corona pandemic indicators have significant effects on the stock index.JEL Classification: I18, E44, Q4, C5

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