Does oil price matter for Indian stock markets?

Krishna Chittedi

MPRA Paper from University Library of Munich, Germany

Abstract: This paper investigates the long run relationship between oil prices and stock prices for India over the period April 2000- June 2011. We employ Auto Regressive Distributed Lag (ARDL) Model that takes into consideration the long run relationship. The results obtained suggest that volatility of stock prices in India have a significant impact on the volatility of oil prices. But a change in the oil prices does not have impact on stock prices.

Keywords: Oil Prices; Stock prices; ARDL cointegration (search for similar items in EconPapers)
JEL-codes: E44 G10 (search for similar items in EconPapers)
Date: 2011-11-02, Revised 2011-12-01
New Economics Papers: this item is included in nep-ene and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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