The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis
The significance of oil market and its impact on economic growth in oil-exporting and oil-consuming countries has led to examination of factors affecting it in different studies. Financial market and its components have penetrated in traditional oil market and this has resulted in creation of exchan...
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| Format: | Article |
| Language: | fas |
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Allameh Tabataba'i University Press
2019-09-01
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| Series: | Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī |
| Subjects: | |
| Online Access: | https://joer.atu.ac.ir/article_11245_987ef31432c4f4b3d28e71535069c445.pdf |
| _version_ | 1797375563429576704 |
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| author | abbas shakeri teymour mohammadi Mohammad Jafari |
| author_facet | abbas shakeri teymour mohammadi Mohammad Jafari |
| author_sort | abbas shakeri |
| collection | DOAJ |
| description | The significance of oil market and its impact on economic growth in oil-exporting and oil-consuming countries has led to examination of factors affecting it in different studies. Financial market and its components have penetrated in traditional oil market and this has resulted in creation of exchanges to trade oil-related securities. Therefore, the importance of financial markets has emerged not as an exogenous variable but as an endogenous variable within the oil market. Scientific results of the research demonstrate that the long-term impact of futures markets on the oil market is definite, however during the crises, due to the concerns about complicated crisis conditions, the effective time horizon becomes short-term, and consequently it is the spot market that influences future variables. Therefore, it is suggested that, in order to prevent the impact of global financial crises on the state’s budget, we have to monitor the financial markets and also participate in oil futures market which has the advantage of generating risk coverage and ensuring the country’s budget to become secure against price fluctuations of international markets. Finally, by undertaking a wise strategy of speculation, we can take advantage of potential opportunities, if supported by domestic financial institutions and Ministry of Petroleum and, therefore, earn the country tremendous revenues. |
| first_indexed | 2024-03-08T19:27:15Z |
| format | Article |
| id | doaj.art-20bb2e3dfa7d4a65848088ac52f63849 |
| institution | Directory Open Access Journal |
| issn | 1735-210X 2476-6453 |
| language | fas |
| last_indexed | 2024-03-08T19:27:15Z |
| publishDate | 2019-09-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī |
| spelling | doaj.art-20bb2e3dfa7d4a65848088ac52f638492023-12-26T08:03:15ZfasAllameh Tabataba'i University PressFaslnāmah-i Pizhūhish/Nāmah-i Iqtisādī1735-210X2476-64532019-09-01197413810.22054/joer.2019.1124511245The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisisabbas shakeri0teymour mohammadi1Mohammad Jafari2Professor, Faculty of Economics, Allameh Tabataba’i University,Associate Professor, Faculty of Economics, Allameh Tabataba’i UniversityPhD Student in Economics, Faculty of Economics, Allameh Tabataba’i UniversityThe significance of oil market and its impact on economic growth in oil-exporting and oil-consuming countries has led to examination of factors affecting it in different studies. Financial market and its components have penetrated in traditional oil market and this has resulted in creation of exchanges to trade oil-related securities. Therefore, the importance of financial markets has emerged not as an exogenous variable but as an endogenous variable within the oil market. Scientific results of the research demonstrate that the long-term impact of futures markets on the oil market is definite, however during the crises, due to the concerns about complicated crisis conditions, the effective time horizon becomes short-term, and consequently it is the spot market that influences future variables. Therefore, it is suggested that, in order to prevent the impact of global financial crises on the state’s budget, we have to monitor the financial markets and also participate in oil futures market which has the advantage of generating risk coverage and ensuring the country’s budget to become secure against price fluctuations of international markets. Finally, by undertaking a wise strategy of speculation, we can take advantage of potential opportunities, if supported by domestic financial institutions and Ministry of Petroleum and, therefore, earn the country tremendous revenues.https://joer.atu.ac.ir/article_11245_987ef31432c4f4b3d28e71535069c445.pdffinancial crisisoil marketfutures marketvar model |
| spellingShingle | abbas shakeri teymour mohammadi Mohammad Jafari The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī financial crisis oil market futures market var model |
| title | The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis |
| title_full | The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis |
| title_fullStr | The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis |
| title_full_unstemmed | The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis |
| title_short | The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis |
| title_sort | effect of financial markets volatilities on oil market an emphasis on 2008 financial crisis |
| topic | financial crisis oil market futures market var model |
| url | https://joer.atu.ac.ir/article_11245_987ef31432c4f4b3d28e71535069c445.pdf |
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