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Relationships between oil price shocks and stock market: An empirical analysis from China

Författare

  • Ronggang Cong

Summary, in Swedish

Abstract in Undetermined

This paper investigates the interactive relationships between oilpriceshocks and Chinese stock market using multivariate vector auto-regression. Oilpriceshocks do not show statistically significant impact on the real stock returns of most Chinese stock market indices, except for manufacturing index and some oil companies. Some “important” oilpriceshocks depress oil company stockprices. Increase in oil volatility may increase the speculations in mining index and petrochemicals index, which raise their stock returns. Both the world oilpriceshocks and Chinaoilpriceshocks can explain much more than interest rates for manufacturing index.

Publiceringsår

2008

Språk

Engelska

Sidor

3544-3553

Publikation/Tidskrift/Serie

Energy Policy

Volym

36

Issue

9

Dokumenttyp

Artikel i tidskrift

Förlag

Elsevier

Ämne

  • Earth and Related Environmental Sciences

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 1873-6777