COVID-19 and the Oil Price – Stock Market Nexus - Evidence From Net Oil-Importing Countries

K.P. Prabheesh, Rakesh Padhan and Bhavesh Garg

Energy RESEARCH LETTERS, 2021, vol. 1, issue 1, 1-4

Abstract: This study focuses on the relation between stock price returns and oil price returns covering the COVID-19 period. This relation is examined for major net oil-importing Asian countries. Utilizing daily data, we fit a DCC-GARCH model. We find evidence of a positive co-movement between oil price returns and stock price returns during the COVID-19 period. This indicates that falling oil prices act as a negative signal for the stock market.

Keywords: covid-19; oil prices; stock market (search for similar items in EconPapers)
JEL-codes: O (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (13)

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