The Asymmetric Impact of COVID-19 Pandemic on the Crude Oil-stock Markets Nexus in KSA: Evidence from a NARDL Model
This paper estimates the asymmetric relationship between the crude oil market, stock market and COVID-19 pandemic in the case of KSA during the period of 15/03/2020 to 03/02/2021. Nonlinear and long-run asymmetric cointegration were utilized for comprehensive research on this topic. Our findings ar...
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| Format: | Article |
| Language: | English |
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EconJournals
2022-11-01
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| Series: | International Journal of Energy Economics and Policy |
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| Online Access: | https://econjournals.com/index.php/ijeep/article/view/12811 |
| Summary: | This paper estimates the asymmetric relationship between the crude oil market, stock market and COVID-19 pandemic in the case of KSA during the period of 15/03/2020 to 03/02/2021. Nonlinear and long-run asymmetric cointegration were utilized for comprehensive research on this topic. Our findings are as follows: positive and negative shocks to the COVID-19 pandemic reduce stock market. Moreover, positive shock to crude oil market increases stock market, but negative shock has a negative and insignificant effect. Based on the results, this study concludes with suitable policy prescription.
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| ISSN: | 2146-4553 |