Onour, Ibrahim (2010): Crude Oil Prices and Stock Markets in Major Oil Exporting Countries: Evidence on Decoupling Feature.
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This paper investigates common cyclical features between crude oil market and stock markets in major oil exporting countries including Saudi Arabia, UAE, and Kuwait. The results of the paper indicate, at low oil prices (below $40 per oil barrel) Saudi and Abu-Dhabi markets share common cyclical feature with oil market, but they digress from the oil market as oil prices rose above $40 per barrel. The decoupling feature indicate the capital markets and oil market respond in different pattern to cycle generating shocks, suggesting as higher oil prices may raise global investment risk, stock markets in these countries deflect from their key fundamental driver.
|Item Type:||MPRA Paper|
|Original Title:||Crude Oil Prices and Stock Markets in Major Oil Exporting Countries: Evidence on Decoupling Feature|
|Keywords:||Common trends; Shared cycles; nonlinear cointegration|
|Subjects:||C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C10 - General
C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C50 - General
F - International Economics > F3 - International Finance > F30 - General
|Depositing User:||A Onour|
|Date Deposited:||16. Jun 2010 14:10|
|Last Modified:||13. Feb 2013 13:36|
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