The dynamics of oil prices, COVID-19, and exchange rates in five emerging economies in the atypical first quarter of 2020

Dacio Villarreal-Samaniego ()

Estudios Gerenciales, 2021, vol. 37, issue 158, 17-27

Abstract: The spread of the COVID-19 and the drop in oil prices caused financial turmoil during the first quarter of 2020. This paper aims to examine the relationship between the COVID-19 pandemic, oil prices, and the exchange rates to the U. S. dollar during that period in five emerging economies: two oil-importers and three oil-exporters. The results of the autoregressive distributed lag analyses reveal a positive co-movement between the fatality rates and the exchange rates of three of those countries. The study also found a negative relationship between oil prices and the exchange rates of the five countries.

Keywords: foreign exchange; COVID-19; oil prices; cointegration. (search for similar items in EconPapers)
JEL-codes: F31 G01 Q40 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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https://doi.org/10.18046/j.estger.2021.158.4042

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Persistent link: https://EconPapers.repec.org/RePEc:col:000129:019208

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