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Journal articles on the topic 'Oil-exporting and oil-importing countries'

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Author: Grafiati

Published: 10 December 2022

Last updated: 28 January 2023

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1

Youssef, Manel, and Khaled Mokni. "Do Crude Oil Prices Drive the Relationship between Stock Markets of Oil-Importing and Oil-Exporting Countries?" Economies 7, no. 3 (July 10, 2019): 70. http://dx.doi.org/10.3390/economies7030070.

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The impact that oil market shocks have on stock markets of oil-related economies has several implications for both domestic and foreign investors. Thus, we investigate the role of the oil market in deriving the dynamic linkage between stock markets of oil-exporting and oil-importing countries. We employed a DCC-FIGARCH model to assess the dynamic relationship between these markets over the period between 2000 and 2018. Our findings report the following regularities: First, the oil-stock markets’ relationship and that between oil-importing and oil-exporting countries’ stock markets themselves is time-varying. Moreover, we note that the response of stock market returns to oil price changes in oil-importing countries changes is more pronounced than for oil-exporting countries during periods of turmoil. Second, the oil-stock dynamic correlations tend to change as a result of the origin of oil prices shocks stemming from the period of global turmoil or changes in the global business cycle. Third, oil prices significantly drive the relationship between oil-importing and oil-exporting countries’ stock markets in both high and low oil-stock correlation regimes.

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2

Maraqa, Basel, and Murad Bein. "Dynamic Interrelationship and Volatility Spillover among Sustainability Stock Markets, Major European Conventional Indices, and International Crude Oil." Sustainability 12, no. 9 (May 11, 2020): 3908. http://dx.doi.org/10.3390/su12093908.

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This study examines the dynamic interrelationship and volatility spillover among stainability stock indices (SSIs), international crude oil prices and major stock returns of European oil-importing countries (UK, Germany, France, Italy, Switzerland and The Netherlands) and oil-exporting countries (Norway and Russia). We employ the DCC-MGARCH model and use daily data for the sample period from 28 September 2001 to 10 January 2020. We find that the dynamic interrelationship between SSIs, stock returns of European oil importing/exporting countries and oil markets is different. There is higher correlation between SSIs and oil-importing countries, while oil-exporting countries have higher correlation with the oil market. Notably, the correlation between oil and stock returns became higher during and after the global financial crisis. This study also reveals the existence of significant volatility spillover between sustainability stock returns, international oil prices and the major indices of oil importing/exporting countries. These results have important implications for investors who are seeking to hedge and diversify their assets and for socially responsible investors.

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3

Mohamued, Elyas Abdulahi, Masood Ahmed, Paula Pypłacz, Katarzyna Liczmańska-Kopcewicz, and Muhammad Asif Khan. "Global Oil Price and Innovation for Sustainability: The Impact of R&D Spending, Oil Price and Oil Price Volatility on GHG Emissions." Energies 14, no. 6 (March 22, 2021): 1757. http://dx.doi.org/10.3390/en14061757.

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Recently, sustainable economic growth has taken the front line of the global development agenda. The common dependency on fossil fuel energy, greenhouse gas (GHG) emissions and the continuous rising demands for energy have posed challenges that put the world in a climate change trap. This work empirically analyzes the effect of innovation, oil price, oil price volatility and economic growth on GHG emissions over the period of 1991–2015. The study compares the emission level between European Union countries (EU) (26), oil-producing countries (22), China and the United States of America (USA) using the Driscoll–Kraay model. The main empirical finding points to a positive effect of innovation on GHG emission reduction initiatives in oil-importing economies. Particularly, EU countries significantly minimized emissions due to innovation, followed by China and the USA. Contrarily, the effect of innovation increases GHG emission in oil-exporting economies. The results also indicate broader significant effects of oil price and oil price volatility on GHG emission. Interestingly, the effect of oil price on GHG emission is asymmetrical between oil-exporting and -importing economies. Oil price increases in oil-importing countries decrease GHG emission; contrarily, its effect increases emissions in oil-exporting countries. Thus, oil-exporting countries lack motivation to decrease emission levels due to oil price escalation. Unlike the oil price, oil price volatility comparably decreases GHG emissions in oil-exporting and -importing economies. Thus, one might be tempted to take oil price volatility and the future uncertainty of oil price as a virtuous instance rather than oil price increment. Thus, policymakers need to pay attention to market forces and policy measures to monitor GHG emissions due to economic activities. The results are also robust under the alternative econometrics estimation model of generalized method of moments (GMM)-Differenced.

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4

Faraj, Shamkhi H., and Asadollah Miremady. "The energy outlook for oil-exporting and oil-importing developing countries." OPEC Review 11, no. 2 (June 1987): 133–52. http://dx.doi.org/10.1111/j.1468-0076.1987.tb00046.x.

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5

Alikhani, S. "Global oil risk price management in Iran and Russia." Upravlenie 9, no. 2 (July 1, 2021): 33–45. http://dx.doi.org/10.26425/2309-3633-2021-9-2-33-45.

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Oil is one of the most important sources of income for oil-exporting countries such as the Russian Federation and Iran, as well as the main raw material in the production process in oil-importing countries. Risks fluctuations in world oil prices can cause sovereign financial risks of instability in macroeconomic variables in both groups of oil exporting and importing countries. Negative shocks in world oil prices for countries such as Iran and Russia, whose economic structure is oriented towards oil and provides a significant part of the state budget through oil, could have significant consequences for the economies of these countries. Such fluctuations not only affect the economies of oil-importing countries, but are also one of the main causes of disruptions in the economies of oil-exporting countries. This study examines the government's management of risk fluctuations in world oil prices and its actions in Iran and Russia. The results of this study show that Iran and Russia, as sanctioned countries and oil exporters, have taken various measures to deal with these shocks, the most important of which is the creation of sovereign wealth funds in the two countries. In this article, the characteristics of national development funds in Iran and Russia are compared. The differences between Iran and Russia in risk management and the structure of these funds are shown.

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6

Sek, Siok Kun, KivanÇ Halil AriÇ, and Jenq Fei Chu. "Oil Price Pass-through on Domestic Inflation: Oil Importing Versus Oil Exporting Countries." Journal of Reviews on Global Economics 8 (September 24, 2019): 604–10. http://dx.doi.org/10.6000/1929-7092.2019.08.52.

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7

Nugent, Jeffrey B., and Malgorzata Switek. "Oil prices and life satisfaction: asymmetries between oil exporting and oil importing countries." Applied Economics 45, no. 33 (November 2013): 4603–28. http://dx.doi.org/10.1080/00036846.2013.795281.

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8

Szira, Zoltán, Alghamdi Hani, and Erika Varga. "Examining the Impact of Oil Price Change on the Economy through GDP Change." Acta Carolus Robertus 9, no. 2 (2019): 149–59. http://dx.doi.org/10.33032/acr.2019.9.2.149.

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Petroleum economics is the field that studies human utilization of petroleum resources and the consequences of that utilization. Petroleum use allows the production of energy. Resources can be regarded as renewable or depletable; petroleum falls into the latter category, which can have an effect on pricing strategies. Crude oil is one of the main natural feedstocks used to meet energy demands and price variation has a significant influence on the society development. A large amount of research suggests that oil price fluctuations have considerable consequences on economic activity. These consequences are expected to be different in oil importing and in oil exporting countries. Whereas an oil price increase should be considered positive news in oil exporting countries and negative news in oil importing countries, the reverse should be expected when the oil price decreases. The paper investigates the co-movements and causality relationship between oil prices and GDP of selected oil exporting countries. Our assumption is decreasing oil prices have a negative impact on the GDP of such countries.

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9

Maghyereh, Aktham, and Basel Awartani. "Oil price uncertainty and equity returns." Journal of Financial Economic Policy 8, no. 1 (April 4, 2016): 64–79. http://dx.doi.org/10.1108/jfep-06-2015-0035.

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Purpose This paper aims to examine the impact of oil price uncertainty on the stock market returns of ten oil importing and exporting countries in the Middle East and North Africa (MENA) region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. Design/methodology/approach This paper intuitively applies the generalized autoregressive conditional heteroskedasticity (GARCH)-in-mean vector autoregression (VAR) model using weekly data over the period January 2001-February 2014. Findings The findings indicate that oil uncertainty matters in the determination of real stock returns. There is a negative and significant relationship between oil price uncertainty and real stock returns in all countries in the sample. The influence of oil price risk is more serious in those economies that depend heavily on oil revenues to grow. Practical implications The findings have important implications. For instance, managers should be aware of the linkages between oil price uncertainty and equity returns when they use oil to hedge and diversify equities, particularly in economies where oil is important for economic growth. The policymakers in oil importing countries should encourage companies to improve efficiency in the usage of energy and to resort to alternative sources to avoid fluctuations in earnings and equity prices. In the countries that heavily depend on oil efforts should focus on diversifying the domestic economy away from oil to protect against oil price fluctuations. Originality/value To the best of our knowledge, this is the first attempt to study the influence of oil price uncertainty in the MENA region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. The empirical findings of the paper have valuable policy implications for investors, market participants and policymakers.

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10

Ghorbel, Achraf, Mouna Abbes Boujelbene, and Younes Boujelbene. "Behavioral explanation of contagion between oil and stock markets." International Journal of Energy Sector Management 8, no. 1 (April 1, 2014): 121–44. http://dx.doi.org/10.1108/ijesm-09-2012-0007.

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Purpose – This paper aims to investigate empirical evidence of behavioral contagion between oil market, US market and stock markets of oil-importing and oil-exporting countries, during the oil shock and US financial crisis period of 2008-2009, after controlling for fundamentals-driven co-movements. Design/methodology/approach – To examine the volatility spillover among oil market and stock markets, the conditional variance of the trivariate BEKK-GARCH model includes three variables: oil returns, US index returns, and the respective individual market returns of 22 oil-importing and exporting countries. The authors estimate the time-varying correlation coefficients between the prediction error of oil market and each stock index. Also, the authors estimate the time-varying correlation coefficients between the prediction error of US market and each stock index. Findings – The estimation of the trivariate BEKK-GARCH model for VIX, oil market and 23 stock markets of oil-importing and oil-exporting countries suggests the volatility spillover of American investor sentiment to stock market and oil market returns. To capture the pure contagion effects between oil market and stock markets, the authors estimate the forecasting errors of time-varying parameter using the Kalman independently of macroeconomic fundamentals factors. The authors analyze the dynamic correlation between forecasting errors of oil price returns and stock indices returns. The authors show a sharp increase in time-varying correlation coefficients during the oil crisis and US financial crisis period of 2008-2009, which provides strong evidence of herding contagion between oil market and stock markets during the turmoil period. Originality/value – This paper makes an original contribution in identifying the behavioral contagion between oil market, US market and stock markets of oil-importing and exporting countries especially during the oil shock and US financial crisis period of 2008-2009. Specifically, the authors consider investor sentiment and herding bias to explain the volatility transmission between oil and stock market returns.

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11

Guesmi, Khaled, and Salma Fattoum. "Return and volatility transmission between oil prices and oil-exporting and oil-importing countries." Economic Modelling 38 (February 2014): 305–10. http://dx.doi.org/10.1016/j.econmod.2014.01.022.

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12

Wang, Yudong, Chongfeng Wu, and Li Yang. "Oil price shocks and stock market activities: Evidence from oil-importing and oil-exporting countries." Journal of Comparative Economics 41, no. 4 (November 2013): 1220–39. http://dx.doi.org/10.1016/j.jce.2012.12.004.

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13

Zaman, Nabila. "Do Oil Price Shocks Affect Household Consumption?" Research in Applied Economics 11, no. 1 (March 31, 2019): 9. http://dx.doi.org/10.5296/rae.v11i1.13826.

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The paper addresses whether international oil price change has any impact on consumer spending. The study is conducted using Organisation for Economic Co-operation and Development nations, which have been chosen deliberately based on their economic importance and classifying each into oil importing and exporting countries: Canada, Germany, the UK and the USA. Applying the empirical methodology of the vector autoregressive model, we find evidence that international oil price shocks have a significant impact on consumer spending. The analysis is performed with two sets of specification for oil (‘Oil price change’ and ‘Net oil price increase’) and the main tools used for diagnosis are forecast error variance decomposition and impulse–response functions.The results are strongly significant for Canada and the USA. The results for Germany and the UK are mixed, which leads us to an inconclusive decision about the impact on these countries. However, in general, our empirical work supports the evidence that oil prices have some predictive power in influencing consumption decisions across oil-importing and oil-exporting countries.

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14

Berlinschi, Ruxanda, and Julien Daubanes. "Foreign aid and oil taxes: helping the poor in oil-rich countries." Environment and Development Economics 17, no. 3 (March 27, 2012): 249–68. http://dx.doi.org/10.1017/s1355770x12000022.

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AbstractThis paper proposes a theoretical analysis of the joint impact of foreign aid and oil taxes on the revenues of a rich oil importing country (North) and a two-class, oil exporting country (South). Without coordination, oil taxes are strictly higher in the North and the global allocation of oil is inefficient. Moreover, oil taxes in the North extract some of the South's oil rents, undoing the revenue transfers from foreign aid. We show that a policy coordination mechanism reduces inefficiencies and improves global welfare.

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15

Rafiq, Shudhasattwa, Pasquale Sgro, and Nicholas Apergis. "Asymmetric oil shocks and external balances of major oil exporting and importing countries." Energy Economics 56 (May 2016): 42–50. http://dx.doi.org/10.1016/j.eneco.2016.02.019.

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16

Sek, Kun. "Effect of oil price pass-through on domestic price inflation: Evidence from nonlinear ARDL models." Panoeconomicus 66, no. 1 (2019): 69–91. http://dx.doi.org/10.2298/pan160511021s.

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We intended to demonstrate that oil price can have a different passthrough effect into domestic prices at consumer and production levels subject to an oil dependency factor. The results were compared between oil-importing and oil-exporting countries. The nonlinear autoregressive distributed lags (NARDL) models were used to capture the asymmetric pass-through effects of oil price increases and decreases in consumer price and producer price respectively. Our results revealed that oil price changes can have asymmetric effect on consumer price index (CPI) inflation directly and indirectly with more influential impact of indirect effect. This result holds for both groups of countries. The effect on producer price is much larger especially in oil-importing group due to the high dependence of these countries on oil. Oil price changes did lead to increases in consumer prices in oil-importing countries. This may due to effective monetary policy that enhances price stickiness in the economy.

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17

Katsampoxakis, Ioannis, Apostolos Christopoulos, Petros Kalantonis, and Vasileios Nastas. "Crude Oil Price Shocks and European Stock Markets during the COVID-19 Period." Energies 15, no. 11 (June 2, 2022): 4090. http://dx.doi.org/10.3390/en15114090.

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This paper investigates the interrelations between stock returns and crude oil prices for European oil-importing/exporting countries. A vector autoregression (VAR) model is applied to estimate the significance of stock market responses to changes in oil prices during the pandemic period 2019–2021. A Granger causality test is applied to find the direction and the intensity of the relation between crude oil and the indices of the European stock markets. The findings of this paper hold with or without the COVID-19 pandemic episode and reveal the interaction between the European stock markets and the crude oil prices. The results indicate that in steady periods, before the COVID-19 outbreak and after the announcement of vaccinations, there is no interdependence between crude oil and stock prices, whereas in high volatility periods, the causality from stock markets to oil prices increases and both oil-exporting and -importing countries are equally influenced. These findings have implications both for investors and fund managers.

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18

Fauzi, N. N., R. R. A. Raja Bungsu, and S. K. Sek. "Examining the convergence of energy consumption: comparison between oil importing versus oil exporting countries." IOP Conference Series: Earth and Environmental Science 494 (August 26, 2020): 012010. http://dx.doi.org/10.1088/1755-1315/494/1/012010.

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19

Candila, Vincenzo, Denis Maximov, Alexey Mikhaylov, Nikita Moiseev, Tomonobu Senjyu, and Nicole Tryndina. "On the Relationship between Oil and Exchange Rates of Oil-Exporting and Oil-Importing Countries: From the Great Recession Period to the COVID-19 Era." Energies 14, no. 23 (December 1, 2021): 8046. http://dx.doi.org/10.3390/en14238046.

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This paper is dedicated to studying and modeling the interdependence between the oil returns and exchange-rate movements of oil-exporting and oil-importing countries. Globally, twelve countries/regions are investigated, representing more than 60% and 67% of all oil exports and imports. The sample period encompasses economic and natural events like the Great Recession period (2007–2009) and the COVID-19 pandemic. We use the dynamic conditional correlation mixed-data sampling (DCC-MIDAS) model, with the aim of investigating the interdependencies expressed by the long-run correlation, which is a smoother (but always daily observed) version of the (daily) time-varying correlation. Focusing on the advent of the COVID-19 pandemic in 2020, the long-run correlations of the oil-exporting countries (Saudia Arabia, Russia, Iraq, Canada, United States, United Arab Emirates, and Nigeria) and (lagged) WTI crude oil returns strongly increase. For a subset of these countries (that is, Saudia Arabia, Iraq, United States, United Arab Emirates, and Nigeria), the (lagged) correlations turn out to be positive, while for Canada and Russia they remain negative as before the advent of the pandemic. In addition, the oil-importing countries and regions under investigation (Europe, China, India, Japan, and South Korea) experience a similar pattern: before the COVID-19 pandemic, the (lagged) correlations were negative for China, India, and South Korea. After the COVID-19 pandemic, the correlations of these latter countries increased.

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20

Djelassi, Mouldi, and Mdalla Omrani. "Asymmetric Effect in the Relationship between Oil Prices and Activity: An Estimate of the VECM Model for Eight Emerging Countries." Business and Economic Research 9, no. 2 (May 12, 2019): 92. http://dx.doi.org/10.5296/ber.v9i2.14777.

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In this study, we attempt to study the impact of oil shocks on the economic activity of eight emerging countries with different importing and exporting profiles, targeting and non-targeting inflation and thus verify the hypothesis of non-linearity. To do this, we used the VECM methodology. In addition to oil prices (the linear variation and its volatility, positive and negative movements in prices), we introduced the interest rate and industrial production as a proxy variable of the activity. The result shows that the economies of these countries are generally more sensitive to net increases in oil prices than to their volatility. Thus, the asymmetrical impact is clearly proven in the results especially in the long run. If the rise in oil prices negatively affects production, the decline does not favor its reshuffle. Indeed, if increases in oil prices reduce economic growth, their declines have no expansionary effect. In addition, the distinction between exporting and importing countries is not obvious. Furthermore, the addition of interest rates indicates that the first prefigurations indicate a tightening of interest rates by the central banks of the target and non-target countries selected in our study.

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21

Filis, George, Stavros Degiannakis, and Christos Floros. "Dynamic correlation between stock market and oil prices: The case of oil-importing and oil-exporting countries." International Review of Financial Analysis 20, no. 3 (June 2011): 152–64. http://dx.doi.org/10.1016/j.irfa.2011.02.014.

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22

Boldanov, Rustam, Stavros Degiannakis, and George Filis. "Time-varying correlation between oil and stock market volatilities: Evidence from oil-importing and oil-exporting countries." International Review of Financial Analysis 48 (December 2016): 209–20. http://dx.doi.org/10.1016/j.irfa.2016.10.002.

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23

Filis, George, and Ioannis Chatziantoniou. "Financial and monetary policy responses to oil price shocks: evidence from oil-importing and oil-exporting countries." Review of Quantitative Finance and Accounting 42, no. 4 (March 9, 2013): 709–29. http://dx.doi.org/10.1007/s11156-013-0359-7.

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24

Bouoiyour, Jamal, Refk Selmi, Syed Jawad Hussain Shahzad, and Muhammad Shahbaz. "Response of Stock Returns to Oil Price Shocks: Evidence from Oil Importing and Exporting Countries." Journal of Economic Integration 32, no. 4 (December 15, 2017): 913–36. http://dx.doi.org/10.11130/jei.2017.32.4.913.

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Bouoiyour, Jamal, Refk Selmi, Syed Jawad Hussain Shahzad, and Muhammad Shahbaz. "Response of Stock Returns to Oil Price Shocks: Evidence from Oil Importing and Exporting Countries." Journal of Economic Integration 32, no. 4 (December 15, 2017): 954–77. http://dx.doi.org/10.11130/jei.2017.32.4.954.

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26

Güntner, Jochen H. F. "HOW DO INTERNATIONAL STOCK MARKETS RESPOND TO OIL DEMAND AND SUPPLY SHOCKS?" Macroeconomic Dynamics 18, no. 8 (June 7, 2013): 1657–82. http://dx.doi.org/10.1017/s1365100513000084.

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Building on Kilian and Park's (2009) structural VAR analysis of the effects of oil demand and supply shocks on the U.S. stock market, this paper focuses on the differences and commonalities of stock price responses in oil exporting and importing economies in 1974–2011. Structural oil price shocks add to our understanding of the 2008 stock market crash. I find that unexpected reductions in world oil supply do not affect stock returns in any of six OECD countries. Although an increase in global aggregate demand consistently raises oil prices and cumulative real stock returns, the effect is more persistent for oil exporters. Other, e.g., precautionary oil demand shocks have a detrimental impact on stock markets in oil-importing countries, a statistically insignificant effect for Canada, and a significantly positive effect for Norway. Oil price shocks account for a larger share of the variation in aggregate international stock returns than in national stock returns.

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27

Hashmi, Shabir Mohsin, Bisharat Hussain Chang, and Niaz Ahmed Bhutto. "Asymmetric effect of oil prices on stock market prices: New evidence from oil-exporting and oil-importing countries." Resources Policy 70 (March 2021): 101946. http://dx.doi.org/10.1016/j.resourpol.2020.101946.

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28

de Jesus, Diego Pitta, Bruno Felipe Lenin Souza Bezerra, and Cássio da Nóbrega Besarria. "The non-linear relationship between oil prices and stock prices: Evidence from oil-importing and oil-exporting countries." Research in International Business and Finance 54 (December 2020): 101229. http://dx.doi.org/10.1016/j.ribaf.2020.101229.

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29

Komail Tayebi, Seyed, and Mehdi Yazdani. "Financial crisis, oil shock and trade in Asia." Journal of Economic Studies 41, no. 4 (July 8, 2014): 601–14. http://dx.doi.org/10.1108/jes-04-2011-0053.

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Purpose – In this paper the authors address the questions whether global financial crises cause oil shocks worldwide, then whether such shocks affect trade flows of both oil importing and oil exporting countries of East-West Asia. The purpose of this paper is thus to explore such effects by specifying basically a dynamic export model using data of the Asian economies countries over the period 1980-2008. Design/methodology/approach – An ARDL specification is applied to show the dynamic effects of main determinants, including financial crisis and the world oil price, on the export flows of each country in the sample. The data for financial crisis have been compiled by Hatzius et al. (2010). Findings – The results, as a whole, imply that both financial crisis and oil price have a cross-effects on Asian trade flows in the short run, while this effects could not occur in the long run. Originality/value – The goal is to estimate an econometric model of exports to examine how recent crises affect export flows in the selected Asian countries. Different from previous studies in the literature, this paper first explores the interaction between financial crisis and oil shocks and second uses an extended and dynamic export model, based on ARDL approach. The core of the study relies on the question whether a cross-relationship between oil price and financial crisis affects the export flows of the Asian countries: China, Japan, Iran, Malaysia, Saudi Arabia, South Korea and Turkey which are both oil importing and exporting.

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30

Korley, Maud, and Evangelos Giouvris. "The Impact of Oil Price and Oil Volatility Index (OVX) on the Exchange Rate in Sub-Saharan Africa: Evidence from Oil Importing/Exporting Countries." Economies 10, no. 11 (November 1, 2022): 272. http://dx.doi.org/10.3390/economies10110272.

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The Theory demonstrates that oil price and oil volatility (OVX) are significant determinants of economic activity; however, studies seldom consider both variables in the oil–exchange rate nexus and ignore the distributional heterogeneity of the exchange rate. We investigate their joint effect and employ both the quantile regression and Markov switching models to address this. We differentiate between positive/negative shocks and control for the effect of the global financial crisis in 2008 and the COVID-19 pandemic in 2020. We observe that OVX shocks significantly impact the exchange rate for all countries whereas, oil price shocks only affect the exchange rate of oil importing countries. Rising (falling) OVX causes the local currency to depreciate (appreciate). The impact of rising or falling OVX is the same for oil importing and oil exporting countries whereas the impact of rising and falling oil price varies. The impact of oil price and OVX on exchange rate is affected by market conditions. The exchange rate responds to oil price and OVX mostly at lower quantiles (bearish markets) for all countries, which reveals investors sensitivity. In contrast, a weak to no significant response is observed at the higher quantiles (bullish market). Our results are robust in model selection (Markov switching models).

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31

Gupta, Eshita. "Oil vulnerability index of oil-importing countries." Energy Policy 36, no. 3 (March 2008): 1195–211. http://dx.doi.org/10.1016/j.enpol.2007.11.011.

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32

Adekoya, Oluwasegun B., and Mahwish Faraz. "Employment generation in net oil‐importing and net oil‐exporting countries: the role of energy consumption." OPEC Energy Review 45, no. 1 (February 10, 2021): 109–34. http://dx.doi.org/10.1111/opec.12200.

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33

Al Rasasi, Moayad H. "The Response of G7 Real Exchange Rates to Oil Price Shocks." International Journal of Economics and Finance 10, no. 4 (March 20, 2018): 191. http://dx.doi.org/10.5539/ijef.v10n4p191.

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This paper evaluates the response of G7 real exchange rates to oil supply and demand shocks developed by Kilian (2009). We find evidence suggesting that oil shocks are associated with the appreciation (depreciation) of real exchange rates for oil exporting (importing) countries. Further evidence, based on the analysis of forecast error variance decomposition, indicates that oil-specific demand shocks are the main contributor to variation in real exchange rates, whereas oil supply shocks contribute the least. Finally, regarding the role of monetary policy in responding to oil and exchange rate shocks, we find evidence showing monetary policy reacts only to oil-specific demand and aggregate demand shocks in three countries, whereas monetary policy responds to real exchange rate fluctuations in four countries.

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34

Chkir, Imed, Khaled Guesmi, Angham Ben Brayek, and Kamel Naoui. "Modelling the nonlinear relationship between oil prices, stock markets, and exchange rates in oil-exporting and oil-importing countries." Research in International Business and Finance 54 (December 2020): 101274. http://dx.doi.org/10.1016/j.ribaf.2020.101274.

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35

Said, Husaini, and Evangelos Giouvris. "Oil, the Baltic Dry index, market (il)liquidity and business cycles: evidence from net oil-exporting/oil-importing countries." Financial Markets and Portfolio Management 33, no. 4 (November 27, 2019): 349–416. http://dx.doi.org/10.1007/s11408-019-00337-0.

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AbstractThe recent financial crisis has made (il)liquidity research more significant than ever. Galariotis and Giouvris (Int Rev Financ Anal 38:44–69, 2015) find evidence that market liquidity may contain information for predicting the state of the economy. Similar to (il)liquidity, oil is an important indicator of the future state of the economy (GDP). We consider five predictive variables, namely national/global illiquidity, foreign exchange, Baltic Dry, and oil. Our findings show that (1) global illiquidity provides greater overall explanatory power compared to national illiquidity (even for developed oil exporters: Norway, Canada, and Denmark). (2) Oil is the most important predictive variable for oil exporters (especially for emerging oil exporters suggesting over-reliance), while Baltic Dry appears to be more important for oil importers. (3) FX has extra power over financial variables mainly for emerging oil exporters. Finally, there is a two-way causality between GDP and our predictive variables: (4) For oil exporters, the two-way causality between oil and GDP remains, while for net oil importers, we observe a one-way causality from GDP to oil.

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He, Feng, Feng Ma, Ziwei Wang, and Bohan Yang. "Asymmetric volatility spillover between oil-importing and oil-exporting countries' economic policy uncertainty and China's energy sector." International Review of Financial Analysis 75 (May 2021): 101739. http://dx.doi.org/10.1016/j.irfa.2021.101739.

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Zahid, Sadaf. "THE IMPACT OF CHANGE IN OIL PRICES ON THE EQUITY MARKETS OF OIL EXPORTING AND IMPORTING COUNTRIES." Business & IT VIII, no. 2 (2018): 22–39. http://dx.doi.org/10.14311/bit.2018.02.03.

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AGHABARARI, LEILA, and AHMED ROSTOM. "CREDIT CYCLES IN COUNTRIES IN THE MENA REGION — DO THEY EXIST? DO THEY MATTER?" Global Economy Journal 20, no. 01 (March 2020): 2050001. http://dx.doi.org/10.1142/s2194565920500013.

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This paper estimates the private sector credit cycles for most of the oil-importing and oil-exporting countries in the Middle East and North Africa. Credit cycles are the medium-term component in spectral analysis of real private sector credit growth. Besides, the paper estimates the credit cycles for several developed countries. The analysis finds substantial differences and rare similarities between credit cycles in the Middle East and North Africa and advanced countries. During 1964–2017, credit cycles in the Middle East and North Africa do not appear to be associated with GDP growth. They only explained a fraction of the growth in private sector credit, and they do not seem to be synchronized across oil-exporters and oil-importers.

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Sadeghi, Abdorasoul, and Soheil Roudari. "Heterogeneous effects of oil structure and oil shocks on stock prices in different regimes: Evidence from oil-exporting and oil-importing countries." Resources Policy 76 (June 2022): 102596. http://dx.doi.org/10.1016/j.resourpol.2022.102596.

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Kumar, Satish, Rabeh Khalfaoui, and Aviral Kumar Tiwari. "Does geopolitical risk improve the directional predictability from oil to stock returns? Evidence from oil-exporting and oil-importing countries." Resources Policy 74 (December 2021): 102253. http://dx.doi.org/10.1016/j.resourpol.2021.102253.

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Jiang, Zhuhua, and Seong-Min Yoon. "Dynamic co-movement between oil and stock markets in oil-importing and oil-exporting countries: Two types of wavelet analysis." Energy Economics 90 (August 2020): 104835. http://dx.doi.org/10.1016/j.eneco.2020.104835.

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Wen, Danyan, Li Liu, Chaoqun Ma, and Yudong Wang. "Extreme risk spillovers between crude oil prices and the U.S. exchange rate: Evidence from oil-exporting and oil-importing countries." Energy 212 (December 2020): 118740. http://dx.doi.org/10.1016/j.energy.2020.118740.

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43

Mokni, Khaled. "Time-varying effect of oil price shocks on the stock market returns: Evidence from oil-importing and oil-exporting countries." Energy Reports 6 (November 2020): 605–19. http://dx.doi.org/10.1016/j.egyr.2020.03.002.

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Zmami, Mourad, and Ousama Ben-Salha. "Oil price and the economic activity in GCC countries: evidence from quantile regression." Equilibrium 15, no. 4 (December 20, 2020): 651–73. http://dx.doi.org/10.24136/eq.2020.028.

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Research background: The effects of oil price fluctuations on the macroeconomic performance in oil-importing and oil-exporting countries have stimulated considerable research activity. However, the debate is far from being closed. Purpose of the article: This paper revisits the impact of crude oil price on economic activity in the Gulf Cooperation Council oil-exporting countries. The study covers a relatively long period spanning from 1960 to 2018. Methods: The empirical investigation accounts for structural breaks, nonlinearity, and non-normal ?distribution of data. The Kapetanios (2005) structural breaks unit root test?? and ?Saikkonen?Lütkepohl (2000a, b, c) cointegration test with structural shifts are implemented to examine the stationary properties of data and the presence of cointegration between variables, respectively. Moreover, the quantile regression is employed to assess whether the impact of oil price on real GDP differs across different states of the economy. Findings & Value added: Empirical results suggest the absence of long-run cointegrating relationships between oil price and GDP in all countries. The quantile regression reveals that oil price does not affect real GDP in the same way across countries and for different business cycle phases. More specifically, the symmetric quantile regression findings reveal that oil price exerts a positive impact on GDP in all countries and that the effect is higher during the recession than expansion states. The asymmetric quantile regression shows that GDP reacts to positive oil price changes in all countries. However, only the Emirati and Omani GDPs are affected by negative oil price changes.

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Salihu, MA Arben. "The impact of Oil Prices on the International Economic Arena: The Economic Factors and International Players." ILIRIA International Review 4, no. 1 (June 30, 2014): 39. http://dx.doi.org/10.21113/iir.v4i1.52.

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Throughout history the new technologies and discoveries revolutionized the way we live. The discovery, the oil, has been critical for society, becoming the world’s most profitable and essential industry transforming itself from domestic to international business. The aim of this paper, above all is to analyze the role of oil and its price volatility in world economy. The ongoing changes and transformations in world oil industry tend to have a great effect not only on the oilimporting countries but also on oil-exporting nations. The demand or supply-triggered oil price volatility differ in its effects to world economic activity. Although it may have different effect for the oil importing nations in comparison to oil exporting nations, still inflationary pressure may be a common feature. A number of points relevant to the study are put forward highlighting pros and cons of issues discussed. The paper also elaborates the environmental concerns, deriving from the increase of oil consumption and the necessity (globally) to increase efforts in finding a decent,(environmentally friendly) replacement for oil.

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Olayungbo, David Oluseun. "Global oil price and food prices in food importing and oil exporting developing countries: A panel ARDL analysis." Heliyon 7, no. 3 (March 2021): e06357. http://dx.doi.org/10.1016/j.heliyon.2021.e06357.

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Yang, Lu, Xiao Jing Cai, and Shigeyuki Hamori. "Does the crude oil price influence the exchange rates of oil-importing and oil-exporting countries differently ? A wavelet coherence analysis." International Review of Economics & Finance 49 (May 2017): 536–47. http://dx.doi.org/10.1016/j.iref.2017.03.015.

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Mokni, Khaled. "A dynamic quantile regression model for the relationship between oil price and stock markets in oil-importing and oil-exporting countries." Energy 213 (December 2020): 118639. http://dx.doi.org/10.1016/j.energy.2020.118639.

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Umar, Muhammad, Mário Nuno Mata, and Joaquim António Ferr�ão. "COVID-19 and negative oil prices-an empirical analysis comparing importing and exporting countries." Global Business and Economics Review 1, no. 1 (2023): 1. http://dx.doi.org/10.1504/gber.2023.10047425.

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Salameh, Hussein Mohammad, Bashar Al Zu', N. A. bi, Khaled Abdelal Al Zubi, and Ihab Khaled Magableh. "Oil price and stock market index in exporting and importing countries: evidence from MENA." American J. of Finance and Accounting 2, no. 4 (2012): 363. http://dx.doi.org/10.1504/ajfa.2012.046877.

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