Long-term effects of global oil price changes on the macroeconomy and financial markets: a comparative panel co-integration approach

M. Ali Sotoudeh and Andrew Worthington

Applied Economics Letters, 2015, vol. 22, issue 12, 960-966

Abstract: In this article, we evaluate the long-term co-integrating relationships between global oil prices (OP) and selected macroeconomic and financial market variables between large net oil-consuming (NOC) and net oil-producing (NOP) countries. Our findings indicate that as opposed to NOP countries, the macroeconomies of NOC countries have long-term co-integrating relationships with OP. However, the financial markets of both country panels exhibit long-term co-integrating relationships with OP. Finally, excluding the case of the consumer price index, the sample economies, whether NOC or NOP, respond to global OP shocks very similarly.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2014.990617 (text/html)
Access to full text is restricted to subscribers.

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:taf:apeclt:v:22:y:2015:i:12:p:960-966

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2014.990617

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().