 Causal linkages between the energy sector and islamic regional indexes: evidence from GCC, EU, US, emerging markets and Asia-pacificFiroz Malayan and Abul Masih MPRA Paper from University Library of Munich, Germany Abstract: The purpose of this paper is to investigate the Granger-causal relationship between conventional energy sector index and Islamic regional indexes of GCC, EU, U.S., Emerging markets and Asia-pacific. Also, the causality among U.S, China and the energy sector will be studied. The standard time series techniques are employed. The empirical results tend to indicate that there exists a Granger-causality from the GCC to the Islamic regional indexes and the conventional energy sector. The results also show that the U.S has the most leading position followed by the energy sector when taking China into context. Both the generalized variance decompositions and impulse response functions confirm the direction of causality. These findings have important policy implications for the regions and countries concerned. The Islamic regional indexes should monitor the trend of the Islamic GCC region, closely, while taking the conventional energy sector into account. The U.S. and the energy sector still have an influence over the Chinese oil and gas sectors. Keywords: Islamic regional indexes; energy sector; Asia-pacific; Granger-causality; VECM; VDC (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:pra:mprapa:100681 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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