Impact of Oil Prices on the Stock Exchange of Pakistan and Malaysia

Rabia Najaf ., Khakan Najaf .

Abstract


The aim of this study to show the impact of changing oil prices on the stock market of Pakistan and Malaysia. our study is trying to show that oil prices has devastated  impact on all the aspects of the life. We have taken the data of 1989 to 2010.we have applied the correlation and regression analysis. Our study is showing Pakistan is the importing country therefore; it has worst impact on the oil prices of Pakistan. Normally, most of the studies revealed that there is negative association between oil prices and stock market. It is seen that each stock market has the vital role in the progress of the economy. Rising in the prices of fuel can become reason of inflation in the country. By different estimates, emerging countries have also been affected due to increase and decrease the prices of oils.


Keywords


oil prices, Pakistan stock exchange, Malaysia stock market, emerging countries

Full Text:

PDF

References


Afia Malik, (2001). Crude Oil Price, Monetary Policy and Output: Case of Pakistan, Journal of Monetary Economics, Vol.38, pp. 215-220.

Achraf Ghorbel, (2008). Response of international stock markets to oil price shocks, Journal of Econometrics, vol. 74, pp 3–30

Abdul et al, (2010). Oil Prices, Exchange Rates and Emerging Stock Markets, September, Global Finance Journal, vol. 17, 224-251

Al- Fayoumi, N. A., Khamees, B. A., & Al-Thuneibat, A. A. (2009). Information transmission among stock return indexes:

evidence from the Jordanian stock market. International Research Journal of Finance and Economics, vol. 24, pp. 194-208.

Amano, R. A., & Van Norden, S. (1998). Oil prices and the rise and fall of the US real exchange rate. Journal of international

Money and finance, vol.17 (2), pp. 299-316.

Chu-Chia et al, (2009). Relationships between Oil Price Shocks and Stock Market: An Empirical Analysis from the Greater China, Econometrics Journal vol 7, pp. 476-504.

Cheng, H- F, Gutierrez, M., Mahajan, A., Shachmurove, Y. and Shahrokhi, M. 2007. A future global economy to be built by BRICs, Global Finance Journal, vol. 18, pp. 143-156

Chung, (2010). The impact of oil price shocks on the three BRIC countries’ stock prices, Econometrics Journal vol. 7, pp. 576-584.

Denial et al, (2009). Oil prices shocks and the stock market, the journal of Finance, vol.: 51, pp 463-491.

El Hedi, (2006). On the short-term influence of oil price changes on stock markets in GCC countries, Global Finance Journal, vol. 17, pp. 224-251.

Gerben Driesprong et al, (2004). Stock Markets and Oil Prices, Journal of finance, vol. :46 ,pp 690-700

Chen, J., Hong, H., & Stein, J. C. (2002). Breadth of ownership and stock returns. Journal of financial Economics, vol. 66(2), pp. 171-205.

Jiménez-Rodríguez, R., & Sanchez, M. (2005). Oil price shocks and real GDP growth: empirical evidence for some OECD countries. Applied economics, vol. 37(2), pp. 201-228.

James D. Hamilton, (2008). Understanding the crude oil prices, journal of economics, vol. 32, pp. 1389—1393.

Kaul, G., & Seyhun, H. N. (1990). Relative price variability, real shocks, and the stock market. The Journal of Finance, vol. 45(2), pp. 479-496.


Refbacks

  • There are currently no refbacks.




Editorial Office:

Educational Research Multimedia & Publications,
S.N. 21, Plot No 24, Mirza Ghalib Road Malegaon Nasik,
Maharashtra India - 423203.
+919764558895 (whatsapp),
editor@scholarshub.net, www.scholarshub.net

Copyrights © 2010-2020 - ERM Publications, India     

This work is licensed under https://creativecommons.org/licenses/by-sa/4.0/