EconPapers    
Economics at your fingertips  
 

Oil prices, US exchange rates, and stock market: evidence from Jordan as a net oil importer

Algia Hammami, Ameni Ghenimi and Abdelfatteh Bouri

MPRA Paper from University Library of Munich, Germany

Abstract: This paper investigates the long-run and the short-run relationship between oil prices (international oil price), US exchange rates and the Amman Stock Exchange as measured by MSCI stock market index in Jordan. The data used in this paper are monthly time series data from M1 2005 to M12 2015. To meet this ambitious objective, we use VECM method. Our results show that the Jordan stock market prices have a relationship with two macroeconomic variables. Nevertheless, oil prices have significantly long and short-run negative effect on stock prices contrary to the US exchange rate that has a significant negative effect on stock prices only in the short term.

Keywords: VECM; Crude Oil Price; US Exchange Rate; Jordan Stock Market (search for similar items in EconPapers)
JEL-codes: G0 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara and nep-ene
Date: 2019-06-20
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/94570/2/MPRA_paper_94570.pdf original version (application/pdf)

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:pra:mprapa:94570

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.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2019-08-03
Handle: RePEc:pra:mprapa:94570