Oil Price Shock and Its Effect on Stock Markets of India
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Type
Article
Date
2019-03
Journal Title
Anweshan - journal of Department of Commerce
Journal Editor
Roy, Dipen
Journal ISSN
Volume Title
Publisher
University of North Bengal
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86Citation
Bagchi, B., & Mishra, A. (2019). Oil Price Shock and Its Effect on Stock Markets of India. Anweshan - Journal of Department of Commerce, 6(1), 41–58. https://ir.nbu.ac.in/handle/123456789/2968
Authors
Bagchi, Bhaskar
Mishra, Ansu
Advisor
Editor
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.
Description
Keywords
crude oil prices, emerging economy, exchange rates, oil price shock, stock indices
Citation
Accession No
Call No
Book Title
Edition
Volume
ISBN No
Volume Number
6
Issue Number
1
ISSN No
2321-0370
eISSN No
Pages
Pages
41 - 58