Testing the Effect of the Conflict in Georgia in 2008 on Energy Market

Asset Izatov

MPRA Paper from University Library of Munich, Germany

Abstract: This paper focuses on providing empirical evidence that the conflict in Georgia 08/08/08 had an effect on the worldwide energy market. The idea was inspired by the popular event studies, testing the effects of the conflicts in oil and gas rich countries, where they found out significant aftermath on the stock market. Using the Event Study approach to detect the influence of the conflict, we failed to support these claims. We compared the returns on energy industry before the event and after the event, made statistical tests on them, but did not find any evidence of our hypothesis to be true.

Keywords: Georgian Conflict; Energy; Oil and Gas; Baku-Tbilisi-Ceyhan pipeline; empirical research; event study. (search for similar items in EconPapers)
JEL-codes: C01 C58 F62 (search for similar items in EconPapers)
Date: 2014-04-22
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:70787

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