 To the test of economic recovery: The swings in energy resource pricesNan Tao, Tiantian Wu and Guo Yan Resources Policy, 2024, vol. 89, issue C Abstract: This paper examines how changes in oil prices impact a wide range of economic indicators worldwide, using empirical data, and a vector autoregressive (VAR) model analyzes oil price volatility. In this paper, we use fast Fourier units and multivariate regression to conduct a Granger causality test and find that volatility from 2001 to 2021 significantly affected economic recovery and spending during that period. Even during the global financial crisis, oil price and corporate investment were two of the most stable economic indicators. The COVID-19 pandemic has caused significant changes in economic activity and energy prices, and oil prices and economic growth are linked to the global financial crisis and COVID-19. In particular, the recent decline in oil prices can be traced back to the COVID-19 pandemic and worldwide economic concerns. Information about the COVID-19 pandemic spread between the oil market and banking activities faster than it did during previous global financial crises or COVID-19 breakouts. The results of this study have comprehensive implications on human understanding. Keywords: Economic indicators; Financial crises; Oil price; Economic recovery (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:89:y:2024:i:c:s0301420723013041 DOI: 10.1016/j.resourpol.2023.104593 Access Statistics for this article Resources Policy is currently edited by R. G. Eggert More articles in Resources Policy from Elsevier |
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