The effects of COVID-19 on the interrelationship among oil prices, stock prices and exchange rates in selected oil exporting economies

Kumeka, Terver Theophilus; Uzoma-Nwosu, Damian Chidozie; David-Wayas, Maria Onyinye

doi:10.1016/j.resourpol.2022.102744

Cited by 43 publications

(19 citation statements)

References 144 publications

(200 reference statements)

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“…These relationship directions conform with the study by Kumeka et al (2022), who found relationships in both directions from the EXR to the return. The opposite direction occurred in the pre-COVID-19 period, while the same direction occurred during the COVID-19 period.…”

Section: Resultssupporting

confidence: 91%

Impacts of the COVID-19 pandemic on the relationship between the economic factors and stock prices of the transport sector in the stock exchange of Thailand

Sirimat

Watchalaanun

Choochote

et al. 2023

5002

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The COVID-19 pandemic has affected economic sectors and investment and has particularly affected the stock pricing factors for the transport sector (TRANS). This study compares the relationship of the different factors, i.e., the volume, exchange rate (EXR), consumer price index (CPI), and the oil price on the stock prices of the TRANS on the Stock Exchange of Thailand (SET) between the pre-COVID-19 and during COVID-19 periods. Time series data between January 2017 and December 2019 were used for the pre-COVID-19 period, and data between January 2020 and September 2022 were used for the during COVID-19 period. The effects of the independent variables were considered by estimating the long-run relationship using the autoregressive distributed lag (ARDL) and Granger causality from those variables to each stock price. The results found that the COVID-19 pandemic caused different effects on the volume, EX, CPI, and the oil price on the stock prices of the transport sector in the SET. Thus, investors should closely monitor the situations caused by natural disasters and the change of the EXR and oil price to reduce any problems that may arise.

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Section: Resultssupporting

confidence: 91%

Impacts of the COVID-19 pandemic on the relationship between the economic factors and stock prices of the transport sector in the stock exchange of Thailand

Sirimat

Watchalaanun

Choochote

et al. 2023

5002

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show abstract

“…e horizontal and vertical axes represent the prediction time and IRF value, respectively. An important feature of IRF is that it tends to be stable in the long run, which means that the IRF can indicate the time it takes for the sequence to converge to a steady state after a shock [105]. In this article, the prediction time is set to 20 to observe whether there is a convergence trend of IRF.…”

Section: Analysis Of Impulse Response Functionmentioning

confidence: 99%

“…e point estimates from the PVAR model help identify the average impact of endogenous explanatory variables on RPOV, but the regression coefficient cannot capture the difference in the impact of financial inclusion policies before and after the Chinese government's official inclusion of the support program in 2015. Although some scholars have tried to compare the impact difference at different time points through IRF, such as applied data from the pre-and post-COVID-19 periods to discuss the impact of oil prices on the stock market [105]. But as we have discussed in Section 3.2, some scholars have questioned this research design.…”

Section: Time-varying Nonparametric Estimatesmentioning

confidence: 99%

Dynamic Nonlinear Connectedness between the Financial Inclusion, Economic Growth, and China’s Poverty Alleviation: Evidence from a Panel VAR Analysis

et al. 2022

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Whether financial inclusion and economic growth can sustainably release poverty alleviation effects in long term has been the focus of academia and government sector. This article uses provincial panel data from 2004 to 2019 to examine the dynamic nonlinear connectedness between the financial inclusion, economic growth, income inequality, and poverty alleviation; the main objective is to reveal the direction and intensity of the long-term and short-term impact of each factor on poverty alleviation. By building a panel vector autoregression model (PVAR), the comparison analyses of national, eastern, central, and western sample groups verify the existence of dynamic nonlinear connectedness among the four variables. The study found that there is complex bidirectional causality between these variables, financial inclusion has the long-term impact on promoting poverty alleviation in China, the impact of economic growth is relatively weak, and income inequality has weakened the positive impact of financial inclusion on poverty alleviation. Through the analysis of impulse response function, variance decomposition, and time-varying nonparametric estimates in different economic regions, we find that the impact of financial inclusion on poverty alleviation presents a U-shaped characteristic, and the contribution of financial inclusion to poverty alleviation in western regions is significant, but poverty reduction in eastern and central region mainly depends on economic growth. For policymakers, financial inclusion can be an effective way to alleviate relative poverty, but the poverty governance should focus more on reducing income inequality in China.

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“…Foreign exchange is a tool of exchange that is used in trade internationally. Tool exchange that can be in the form of currency money has been recognized the world, gold, or letter worthwhile (Kumeka et al, 2022;Ryandono et al, 2022). In comparison, foreign exchange reserves are a whole tool exchange or assets that can be used by any who is in government power.…”

Section: Foreign Exchange Reservesmentioning

confidence: 99%

“…Increasing the population in a country will cause an increase in demand for consumer goods. Thus, increasing the population should be studied more to fulfill a country's needs (Kumeka et al, 2022).…”

Section: Total Populationmentioning

confidence: 99%

Sustainable Energy Economic Policy: Population, Energy Consumption, and Macroeconomic Conditions

Priyadi

Atmadji²,

Artiani³

et al. 2022

IJEEP

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This study examines and analyzes the energy economic policy of Indonesia with population, energy consumption and its macroeconomic condition in the short-run and long-run. In the long run, this study found that the non-renewable energy will be replaced with renewable energy. One of Indonesia's imported energy commodities is fuel and engine oil consumer goods. Based on the unit root test results, the Autoregressive Distributed Lag (ARDL) Model is the most appropriate model used in this study. The coefficient of determination indicated by the R-squared is 0.967579, which means the model can explain 96.8% of the international trade and its macroeconomic factors on the volume of imported fuel and engine oil in Indonesia. This study uses independent variables like total population, vehicle volume, gross domestic product (GDP), exchange rates, and foreign exchange reserves. These variables were fruitful in explaining the critical factors in the imported volume of fuel and engine oil, which are essential public goods used in daily activities and have to meet the people's consumption. In addition, the result reveals that the interesting thing is in the long run, the total population negatively affects fuel and engine oil imports in Indonesia.

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The effects of COVID-19 on the interrelationship among oil prices, stock prices and exchange rates in selected oil exporting economies

Cited by 43 publications

References 144 publications

Impacts of the COVID-19 pandemic on the relationship between the economic factors and stock prices of the transport sector in the stock exchange of Thailand

Impacts of the COVID-19 pandemic on the relationship between the economic factors and stock prices of the transport sector in the stock exchange of Thailand

Dynamic Nonlinear Connectedness between the Financial Inclusion, Economic Growth, and China’s Poverty Alleviation: Evidence from a Panel VAR Analysis

Sustainable Energy Economic Policy: Population, Energy Consumption, and Macroeconomic Conditions

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