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How do oil supply and demand shocks affect Asian stock markets?

Koh, Wee Chian


This paper examines how oil market shocks affect Asian stock prices using the structural vector autoregression (VAR) approach. Global oil supply and demand shocks are disentangled using sign restrictions and elasticity bounds. Oil price increases are bad news only if the source is from oil-market-specific demand shifts. Northeast Asian stock markets are more resilient as investors' expectation of continued economic growth outweighs the adverse effect of higher oil prices. Increased global...[Show more]

CollectionsANU Research Publications
Date published: 2017
Type: Journal article
Source: Macroeconomics and Finance in Emerging Market Economies
DOI: 10.1080/17520843.2015.1135819


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