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Title: Oil Price Shock and Its Effect on Stock Markets of India
Other Titles: ANWESHAN, Vol. 6, No. 1, 2019, pp. 41 - 58
Authors: Bagchi, Bhaskar
Mishra, Ansu
Keywords: crude oil prices
emerging economy
exchange rates
oil price shock
stock indices
Issue Date: Mar-2019
Publisher: University of North Bengal
Abstract: The present study makes an attempt to investigate the effect of sharp continuous surging crude oil price on stock market indices of India, and also the long-term and short term relationships between crude oil prices and stock indices. The ‘period of the study’ spans from July 2009 to December 2016. We have found surge in oil price has positive correlation with equity indices and negative correlation with the exchange rates. The result is suited with the existing economic theory. Multivariate cointegration techniques along with vector error correction mechanism have been applied in the study.
ISSN: 2321-0370
Appears in Collections:Vol. 6 No. 1 (March 2019)

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