Global economic performance and natural resources commodity prices volatility: Evidence from pre and post COVID-19 era

Li Sun and Yang Wang

Resources Policy, 2021, vol. 74, issue C

Abstract: The emergence of Covid-19 has created a global panic that affects global economic performance and causes natural resources commodity price volatility. In this regard, the current research study investigated the nexus of natural resource commodity price volatility and global economic performance from January 01, 2019, to July 01, 2021. Using the wavelet power spectrum and wavelet coherence approaches, the empirical findings reveal that only the natural resource commodity prices are vulnerable. However, no vulnerability has been observed for the global economic performance. Additionally, the wavelet coherence reveals that there is no long-run or the short run causal association between these two variables. Moreover, the Breitung-Candelon spectral Granger causality test confirms no causal relationship between natural resource commodity price volatility and global economic performance. Based on the empirical findings, this study provides some relevant policy implications.

Keywords: Natural resource commodity price volatility; Global economic performance; Breitung-candelon spectral granger causality; Covid-19 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (52)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:74:y:2021:i:c:s0301420721004025

DOI: 10.1016/j.resourpol.2021.102393

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