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

Author

  • 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.

Publishing year

2008

Language

English

Pages

3544-3553

Publication/Series

Energy Policy

Volume

36

Issue

9

Document type

Journal article

Publisher

Elsevier

Topic

  • Earth and Related Environmental Sciences

Status

Published

ISBN/ISSN/Other

  • ISSN: 1873-6777