Impact of Russia-Ukraine War on Sustainable Development Goals: A Study through Indian Financial Market Perspective

Smriti Pathak, Jalpa Thakkar, Arpita Gurbaxani, Shreya Virani and Prerak Thakkar
Additional contact information
Smriti Pathak: Symbiosis Centre For Management Studies, Pune (SCMS, Pune), Symbiosis International (Deemed University) (SIU), Pune, Maharashtra, India,
Jalpa Thakkar: Symbiosis Centre For Management Studies, Pune (SCMS, Pune), Symbiosis International (Deemed University) (SIU), Pune, Maharashtra, India,
Arpita Gurbaxani: Symbiosis Centre For Management Studies, Pune (SCMS, Pune), Symbiosis International (Deemed University) (SIU), Pune, Maharashtra, India,
Shreya Virani: Symbiosis Centre For Management Studies, Pune (SCMS, Pune), Symbiosis International (Deemed University) (SIU), Pune, Maharashtra, India,
Prerak Thakkar: Sungard Availability Services, Pune, Maharashtra, India.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 1, 389-394

Abstract: This study measures impact of geopolitical crisis concerning Russia Ukraine War with reference to Sustainable development Goal 8. The researchers have analyzed the variables such as Indian stock market performance, MCX crude oil and Indian GDP Indices to calculate the linear interdependencies among crude oil, Indian stock market performance and Gross Domestic Product using monthly data from January 2016 to May 2022 using a Vector Autoregressive (VAR) model. Time series stationarity is checked using Augmented Dickey-Fuller test. The time series used for the analysis are MCX iCOMDEX crude oil Index, Nifty 50 Index, and GDP Index. Correlation is measured using the Granger Causality Test and VAR model. The outcome demonstrates that the lagged values of the Nifty and crude oil prices indexes are very effectively used to explain the GDP Index. Granger s Causation Matrix shows that past value of NIFTY Index causes change in GDP Index similarly past value of Nifty Index causes change in MCX Crude oil Index, whereas MCX crude oil does not cause much change in GDP Index. Further research could be done using a detailed time series for a longer period to find any impact of crude oil prices on GDP.

Keywords: MCX Crude Oil Index; Nifty Index; GDP Index; Vector Autoregression (VAR); SDG8 (search for similar items in EconPapers)
JEL-codes: O11 O16 Q01 Q02 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/13895/7147 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/13895 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2023-01-42

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().