The impact of oil prices on stock prices and other macroeconomic variables in India: pre- and post-2008 crises

2018 ◽  
Vol 42 (3) ◽  
pp. 212-223 ◽  
Author(s):  
Vishruti Gupta ◽  
Pooja Sharma
Keyword(s):  
Stock Prices ◽  
Oil Prices ◽  
Macroeconomic Variables ◽  
The Impact

scholarly journals The Impact of Macroeconomic Variables on Stock Prices in Kuwait

2019 ◽  
Vol 14 (6) ◽  
pp. 99 ◽  
Author(s):  
Ahmad M. Al-Kandari ◽  
Sadeq J. Abul
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Oil Prices ◽  
Macroeconomic Factors ◽  
Macroeconomic Variables ◽  
Dynamic Relationship ◽  
Long Run ◽  
Short Run ◽  
Johansen Cointegration Test ◽  
The Impact

The Kuwaiti Stock Exchange was established in April 1977 and is among the oldest stock exchanges in the GCC countries. This study aims to add new evidence about the impact of macroeconomic factors on the Kuwaiti Stock Exchange. It examines empirically the dynamic relationship between the Kuwaiti Stock Exchange Index and the main macroeconomic variables. These variables included M2, the three-month deposit interest rate, oil prices, the US Dollar vs Kuwaiti Dinar exchange rate and the inflation rate. By applying the Johansen cointegration test, together with the Var Error Correction Model (VECM), the study found that there a long-run unidirectional relationship exists between the Kuwaiti Stock Exchange Index and the aforementioned macroeconomic variables. This study also confirmed the existence of a short-run relationship between oil prices and stock prices in Kuwait.

scholarly journals The Impact of International Oil Prices on the Stock Price Fluctuations of China’s Renewable Energy Enterprises

Energies ◽  
2019 ◽  
Vol 12 (24) ◽  
pp. 4630 ◽  
Author(s):  
Cody Yu-Ling Hsiao ◽  
Weishun Lin ◽  
Xinyang Wei ◽  
Gaoyun Yan ◽  
Siqi Li ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Stock Prices ◽  
Stock Price ◽  
Capital Investment ◽  
Spillover Effect ◽  
Oil Prices ◽  
Listed Companies ◽  
Oil Price ◽  
Price Fluctuations ◽  
The Impact

In order to address a series of issues, including energy security, global warming, and environmental protection, China has ranked first in global renewable investment for the seventh consecutive year. However, developing a renewable energy industry requires a significant capital investment. Also, the international oil price fluctuations have an important impact on the stock prices of renewable energy firms. Thus, in order to provide implications for market investment as well as policy recommendations, this paper studied the spillover effect of international oil prices on the stock prices of China’s renewable energy listed companies. We used a Vector Autoregressive (VAR) model with innovations using a Factor-GARCH (Generalized Autoregressive Conditional Heteroskedasticity) process to evaluate the impact of market co-movements and time-varying volatility and correlation between the international oil price and China’s renewable energy market. The results show that the international oil price has a significant price spillover effect on the stock prices of China’s renewable energy listed companies. Moreover, the fluctuations of international oil prices have an influence on the stock price variations of Chinese renewable energy listed companies.

scholarly journals The Impact of Macroeconomic Variables on Stock Prices: An Empirical Analysis of Islamabad Stock Exchange

2014 ◽  
Vol 10 (2) ◽  
pp. 73-93
Author(s):  
Nosheen Rasool ◽  
Muhammad Mubashir Hussain
Keyword(s):  
Exchange Rate ◽  
Significant Relationship ◽  
Stock Prices ◽  
Price Index ◽  
Stock Exchange ◽  
Foreign Exchange Reserves ◽  
Macroeconomic Variables ◽  
Production Index ◽  
Long Run ◽  
The Impact

The purpose of this study was to analyze long-run causal relationship between ISE (Islamabad Stock Exchange) and macroeconomic variables in Pakistan and also find out the direction of causality. The impact of macroeconomic variables on stock prices of ISE has not been previously discussed by the researchers. The monthly data from January 2001 to December 2010 was used in this study. The set of macroeconomic variables include Exchange Rate (ER), Foreign Exchange Reserves (FER), Industrial Production Index (IPI), Interest Rate (IR), Imports (M), Money Supply (MS), Wholesale Price Index (WPI) and Exports (X). Descriptive statistics and Unit root test, Johansen Co-integration Technique and Granger Causality Technique were employed to analyze the long-run and causal relationship between the macroeconomic variables and stock prices.  The results revealed that M showed positive and significant relationship but Foreign Exchange Reserves (FER) and Industrial Production Index (IPI) indicated positive and insignificant relationship with the stock prices. Exchange rate(ER), Money supply (MS) and  Whole sale price index(WPI) showed negative but significant relationship while Interest  rate (IR) and Export( X )indicated a negative and insignificant relationship with the stock prices. The findings of Granger Causality revealed that only exports showed a unidirectional causal relationship. 

scholarly journals Dynamic impact of Gold Prices, Oil Prices and Exchange Rate on Stock Market Performance: A Case of Pakistan’s Stock Exchange (KSE 100 Index)

2021 ◽  
Vol 7 (1) ◽  
pp. 1-12
Author(s):  
Asif Ali ◽  
Muhammad Kamran Khan ◽  
Hamid Ullah
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
Market Performance ◽  
Oil Prices ◽  
Series Data ◽  
Macroeconomic Variables ◽  
Term Relation ◽  
Stock Market Performance ◽  
The Impact

Currently emerging markets are passing through economic turmoil due to considerable increases in the prices of oil and gold with significant variation in the foreign exchange market. All the macroeconomic variables are touching the highest value which was never occurred in the history of Pakistan. Taking advantages of the current situation the study has examined the impact of gold prices, oil prices and exchange rate on stock market performance. For this purpose, the study has used daily data of these macroeconomic variables for the period of 2003 to 2018. By using time series data analysis, it reveals that there is no co-integration or long-term relation among these variables; however, the vector autoregressive model showed significant short-term relation among the securities market performance, foreign exchange rate, prices of oil and gold. The analysis also suggests that significant changes in the prices of oil, foreign exchange rates and the prices of gold have a negative lagged effect on the performance of the stock market.

Modelling the impact of oil prices on Vietnam’s stock prices

2010 ◽  
Vol 87 (1) ◽  
pp. 356-361 ◽  
Author(s):  
Paresh Kumar Narayan ◽  
Seema Narayan
Keyword(s):  
Stock Prices ◽  
Oil Prices ◽  
The Impact

Economic Activities and Oil Price Shocks in Indian Outlook: Direction of Causality and Testing Cointegration

2021 ◽  
pp. 097215092199049
Author(s):  
Preeti Sharma ◽  
Avinash K. Shrivastava
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Stock Prices ◽  
Economic Activity ◽  
Negative Relationship ◽  
Oil Prices ◽  
Industrial Output ◽  
Market Prices ◽  
Macroeconomic Variables ◽  
Short Run

The current study intends to find out the linkages between crude oil prices and economic activity in the context of Indian economy. The macroeconomic variables such as gross domestic product (GDP), unemployment, industrial output, inflation, exchange rate and stock market prices have been used as a proxy to economic activity. We have analysed the sample data of 30 years, that is, from year 1991 to 2020. To inspect the short-run relationship between oil prices and the above-mentioned macroeconomic variables, Granger causality test has been applied after removing the presence of unit root through differencing the series. To investigate the long-run relationship, vector error correction model (VECM) has been applied after testing cointegration through the Johansen method of cointegration. The findings of the study show that oil prices have short-run causality with all the variables, that is, GDP, unemployment, industrial output, inflation, exchange rate and stock market prices, while they have a long association with inflation, industrial production and unemployment. Further we find a negative relationship between oil prices and unemployment, industrial output, inflation and exchange rate and a positive relationship with GDP and stock prices.

scholarly journals THE CAUSES AND IMPLICATION OF DELAYED PASSAGE OF 2018 BUDGET ON THE NIGERIAS ECONOMIC RECOVERY AND GROWTH PLAN

2021 ◽  
Vol 9 (09) ◽  
pp. 370-375
Author(s):  
Yahaya Yusuf ◽  
◽  
Bilyaminu Yusuf Hanga ◽  
Keyword(s):  
Oil Prices ◽  
Economic Recovery ◽  
Medium Term ◽  
Fiscal Responsibility ◽  
National Assembly ◽  
Macroeconomic Variables ◽  
Annual Budget ◽  
Gdp Growth Rate ◽  
Gray Areas ◽  
The Impact

The study utilized descriptive techniques in the assessment of the impact of sectoral allocations of Nigerias 2018 annual budget on selected macroeconomic variables of GDP growth rate, Exchange rate, Inflation, Oil prices, Oil production, Debt servicing among others and the 2016 Nigerias Economic Recovery and Growth Plan (ERGP). We identified some gray areas in the budget, budget padding, constitutional lacuna, non-compliance with fiscal responsibility Act, late preparation and consideration of medium-term expenditure framework, political face-off between the National Assembly and the executive, lack of patriotism as the causes of the long delay in the consideration and passage of the 2018 budget by the national Assembly. The study therefore recommends amendment of the 1999 constitution, sanctioning of erring Ministries, Departments and Agencies (MDAs) and deployment of ICT in budgeting tracking by civil society groups, communities and the general public.

scholarly journals Impact of Macroeconomic Variables on Islamic Banks Profitability

2018 ◽  
Vol 1 (2) ◽  
pp. 20-35
Author(s):  
Qaisar Ali ◽  
Selamah Maamor ◽  
Hakimah Yaacob ◽  
Muhammad Usman Tariq Gill
Keyword(s):  
Growth Rate ◽  
Exchange Rate ◽  
Money Supply ◽  
Oil Prices ◽  
Gdp Growth ◽  
Islamic Banks ◽  
Macroeconomic Variables ◽  
Brunei Darussalam ◽  
Gdp Growth Rate ◽  
The Impact

The main objective of this study is to understand and determine the impact of macroeconomic variables on Islamic banks’ profitability in Brunei. The impact of GDP growth rate, inflation, interest rate, exchange rate, oil prices, competition and money supply on Bank Islam Brunei Darussalam (BIBD) profitability was determined from the year 2012 to the year 2016. The secondary data was obtained from DEPD, AMBD and IMF annual reports. The collected data was analysed using Stata 15. The fixed effects panel regression technique was adopted to measure the impact of each variable on Islamic banks’ profitability. The findings revealed that GDP growth rate, inflation, exchange rate, oil prices and money supply have a significant positive impact on profitability. The findings further revealed that oil prices, GDP and inflation were the most significant and exchange rate and money supply were the least significant determinants of profitability. The findings suggest the regulators and policy makers to discover alternative resources to rejuvenate economic and financial system. Islamic bankers may revamp its marketing strategies to reduce the intensity of macroeconomic variables. This study has vigorously contributed in the existing literature of single country analysis of Islamic banks particularly in the context of Brunei.

scholarly journals Building the uncertainty indicator regarding adjustment of the Bank of Russia’s monetary policy relying on news sources

2020 ◽  
Vol 14 (4) ◽  
pp. 62-75
Author(s):  
Elizaveta Golovanova ◽  
Andrei Zubarev
Keyword(s):  
Monetary Policy ◽  
Text Analysis ◽  
Stock Prices ◽  
Learning Support ◽  
Communication Policy ◽  
Macroeconomic Variables ◽  
Economic Agents ◽  
News Sources ◽  
The Subject ◽  
The Impact

Text analysis with machine learning support can be implemented for studying experts’ relations to the Bank of Russia. To reach macroeconomic goals, the communication policy of the bank must be predictable and trustworthy. Surveys addressing this theme are still insufficient compare to the theoretical studies on the subject of other bank tools. The goal of this research is to analyze the perception of uncertainty by economic agents. For that purpose, we built an uncertainty indicator based on news sources from the Internet and on textual analysis. The dynamics of the indicator reflect unexpected statements of the Bank of Russia and events affecting monetary policy. Financial theory links monetary policy and stock prices, so we used this fact to examine the impact of the uncertainty indicator on the MOEX and RTS indices. We tested the hypothesis that our indicator is significant in GARCH models for chosen financial series. We found out several specifications in which our indicator is significant. Among the specifications considered, the uncertainty indicator contributes the most to explaining variances of the RTS index. The obtained uncertainty indicator can be used for forecasting of different macroeconomic variables.

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