The Impact of Oil Prices on the Stock Market and Real Exchange Rate: The Case of Kazakhstan
International Journal of Energy Economics and Policy2022Vol. 12(1), pp. 163–168
Citations Over TimeTop 10% of 2022 papers
Abstract
In this study, the relationship between KASE stock market closing prices and oil prices is analyzed using ADF and Zivot-Andrews' (1992) unit root tests and monthly data for the period of 2016-2021. First, the variables are tested for causality. Results show that there is a causal relationship between the real exchange rate and closing prices and between oil prices and the real exchange rate. The short-term effects of the variables are investigated using the VAR method. Results show that Brent crude oil prices have a positive effect on KASE closing prices, while the real exchange rate has a negative effect. In conclusion, changes in oil prices affect the formation of stock prices.
Related Papers
- → A STUDY ON THE ACTUAL CONDITION OF BIG SHOPPING STORES' CLOSING AND THE TENDENCY OF ITS USES AFTER THE CLOSING IN THE CENTRAL AREAS OF LOCAL CITIES : From researches to municipalities in Hokuriku-Koshin-Etsu area(2002)4 cited
- → Adjusted Closing Prices(2011)2 cited
- On the Closing of a Class in College English(2008)
- → Geographical research on the closing of the big stores and the agendas on using of the closing in lacal cities(2013)