The effect of oil prices on stock prices: a structural time series approach
by Imad Moosa
International Journal of Global Energy Issues (IJGEI), Vol. 38, No. 4/5/6, 2015

Abstract: A structural time series model is estimated to examine the effect of oil prices on stock prices in three oil importing and four oil exporting countries. The results show that some missing variables affect the secular behaviour of, and that oil prices can explain cyclical variation in, stock prices. In all cases the effect of oil prices on stock prices turns out to be significantly positive. This finding is explained in terms of the positive effect running from economic activity to both oil prices and stock prices.

Online publication date: Wed, 01-Jul-2015

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Global Energy Issues (IJGEI):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com