Impact of Russian-Ukraine war on clean energy, conventional energy, and metal markets: Evidence from event study approach

Muhammad Umar, Yasir Riaz and Imran Yousaf

Resources Policy, 2022, vol. 79, issue C

Abstract: This article explores the impact of the Russian-Ukraine war on the metals, conventional energy, and renewable energy markets, by using an event research technique. The data collected demonstrates a significant increase in the anomalous returns that are associated with the renewable energy industry. Apart from the gas oil index, none of the conventional energy or metals markets tend to exhibit large abnormal returns on the event day. Moreover, Europe was one of the first clean energy markets to react to war. The impact was, likewise, highest on the t+1 day, which was not the case that showed replication in the other markets. War had a significant influence on gold, platinum, palladium, and nickel, among other metals.

Keywords: Energy markets; Metals markets; Event study; Russia-Ukraine War (search for similar items in EconPapers)
JEL-codes: G11 G14 G41 N40 Q40 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (88)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:79:y:2022:i:c:s0301420722004093

DOI: 10.1016/j.resourpol.2022.102966

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