The Effect of Financial and Macroeconomic Factors on the Oil Market

Cilt: 5 Sayı: 4 1 Aralık 2015
  • Nikolaos Sariannidis
  • Georgios Galyfianakis
  • Evagelos Drimbetas
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The Effect of Financial and Macroeconomic Factors on the Oil Market

Abstract

Our objective in this paper is to contribute to the discussion and identify, in the short-run, the effects of basic financial indicators (Equity, Bonds, Exchange Rates, Baltic Exchange Dry Index) and widely traded commodities (Gold, Wheat) on the crude oil market. A GARCH model is employed to test the above hypothesis for the period of almost ten years using daily data from June 1st, 2004 to May 30th, 2014. The results coming out of our investigation suggest that wheat and bonds markets have negative impact to the oil market. Also, the results indicate that the volatility of U.S. $/Yen exchange rate and the volatility of Baltic Exchange Dry Index influence significantly negatively the oil market. Lastly, our findings indicate that both, gold market as well as stock market, positively influence the oil market, confirming the relevant literature which was reviewed and summarized.

Keywords

Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

-

Yazarlar

Nikolaos Sariannidis Bu kişi benim

Georgios Galyfianakis Bu kişi benim

Evagelos Drimbetas Bu kişi benim

Yayımlanma Tarihi

1 Aralık 2015

Gönderilme Tarihi

1 Aralık 2015

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2015 Cilt: 5 Sayı: 4

Kaynak Göster

APA
Sariannidis, N., Galyfianakis, G., & Drimbetas, E. (2015). The Effect of Financial and Macroeconomic Factors on the Oil Market. International Journal of Energy Economics and Policy, 5(4), 1084-1091. https://izlik.org/JA72SE58EA
AMA
1.Sariannidis N, Galyfianakis G, Drimbetas E. The Effect of Financial and Macroeconomic Factors on the Oil Market. IJEEP. 2015;5(4):1084-1091. https://izlik.org/JA72SE58EA
Chicago
Sariannidis, Nikolaos, Georgios Galyfianakis, ve Evagelos Drimbetas. 2015. “The Effect of Financial and Macroeconomic Factors on the Oil Market”. International Journal of Energy Economics and Policy 5 (4): 1084-91. https://izlik.org/JA72SE58EA.
EndNote
Sariannidis N, Galyfianakis G, Drimbetas E (01 Aralık 2015) The Effect of Financial and Macroeconomic Factors on the Oil Market. International Journal of Energy Economics and Policy 5 4 1084–1091.
IEEE
[1]N. Sariannidis, G. Galyfianakis, ve E. Drimbetas, “The Effect of Financial and Macroeconomic Factors on the Oil Market”, IJEEP, c. 5, sy 4, ss. 1084–1091, Ara. 2015, [çevrimiçi]. Erişim adresi: https://izlik.org/JA72SE58EA
ISNAD
Sariannidis, Nikolaos - Galyfianakis, Georgios - Drimbetas, Evagelos. “The Effect of Financial and Macroeconomic Factors on the Oil Market”. International Journal of Energy Economics and Policy 5/4 (01 Aralık 2015): 1084-1091. https://izlik.org/JA72SE58EA.
JAMA
1.Sariannidis N, Galyfianakis G, Drimbetas E. The Effect of Financial and Macroeconomic Factors on the Oil Market. IJEEP. 2015;5:1084–1091.
MLA
Sariannidis, Nikolaos, vd. “The Effect of Financial and Macroeconomic Factors on the Oil Market”. International Journal of Energy Economics and Policy, c. 5, sy 4, Aralık 2015, ss. 1084-91, https://izlik.org/JA72SE58EA.
Vancouver
1.Nikolaos Sariannidis, Georgios Galyfianakis, Evagelos Drimbetas. The Effect of Financial and Macroeconomic Factors on the Oil Market. IJEEP [Internet]. 01 Aralık 2015;5(4):1084-91. Erişim adresi: https://izlik.org/JA72SE58EA