The impact of oil price shocks on latin american stock markets: a behavioral approach

Paulo Marschner () and Paulo Ceretta ()
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Paulo Marschner: Federal University of Santa Maria
Paulo Ceretta: Federal University of Santa Maria

Economics Bulletin, 2021, vol. 41, issue 2, 457-467

Abstract: We analyzed the impact of oil price shocks on the stock returns in Latin American stock markets. We found an asymmetric relationship and showed that oil price exposures are homogeneous in these markets. Our results confirm the intuitive idea that the asymmetry between the oil price and the stock returns may be related to behavioral aspects.

Keywords: Oil Price; Stock Market; Behavioral Finance; Emerging Markets (search for similar items in EconPapers)
JEL-codes: Q4 (search for similar items in EconPapers)
Date: 2021-04-09
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