Oil Prices and Economic Growth in Major Emerging Economies

Çevik, Emrah İsmail; Dibooğlu, Sel; Kantarcı, Tuğba; Çalişkan, Hande

doi:10.4018/978-1-7998-1093-3.ch001

Cited by 2 publications

(2 citation statements)

References 23 publications

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“…However, the most recent literature focused more upon the oil prices volatility and economic growth. Such studies include Aloui et al (2018) , Prabheesh and Laila (2020) , Baek et al (2020) , Baek and Young (2020) , Mukhtarov et al (2020) , Katırcıoglu et al (2020) , E.I. Cevik et al (2020) , Cevik et al (2020: pp.…”

Section: Introductionmentioning

confidence: 99%

Natural resources commodity prices volatility and economic performance: Evidence from China pre and post COVID-19

Mei

Ali

et al. 2021

Resources Policy

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Volatility in the prices of natural resources particularly in the Covid-19 period is the subject of major concern in recent times. Although many studies have empirically investigated the influence of oil prices on economic growth and Covid-19 on oil prices. However, the current study contributes to the literature by investigating the causal linkage of natural resources commodity prices and economic growth in the pre and post Covid-19 period for China over the period from January 01, 2019, to April 01, 2021. This study employed the wavelet power spectrum, and the wavelet coherence approaches, and the frequency domain causality test, which is known for the causal identification in the long-run, medium-run, and short-run. The empirical findings reveal that the natural resource commodity prices are more vulnerable than the economic performance particularly in the Covid-19 peak period in China. However, the wavelet coherence approach demonstrates that a bidirectional causal association exists between natural resources commodity prices and economic performance at different frequencies and time periods. Additionally, the frequency domain causality test confirms that the natural resource commodity prices volatility significantly causes economic performance only in the medium-run. Based on the empirical findings, this study recommends that innovative technological and precautionary measures must be taken to accommodate or overcome natural disasters in the future, and tackle natural resources commodity prices volatility.

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Section: Introductionmentioning

confidence: 99%

Natural resources commodity prices volatility and economic performance: Evidence from China pre and post COVID-19

Mei

Ali

et al. 2021

Resources Policy

View full text Add to dashboard Cite

show abstract

“…Quantitative tests such as Granger causality, quantile regression, couple functions, generalised autoregressive conditional heteroskedasticity (GARCH), and vector autoregression have been common to assess the co-movement and test for the effect of oil price change [ 40 , 41 ]. Amongst the different co-movement assessments, the linkage between oil price change and the stock market gained significant attention with the hypothesis that stock market performance reflects a healthy economy [ [42] , [43] , [44] , [45] , [46] , [47] , [48] , [49] , [50] ]. In the reviewed studies, it was observed that the effect of oil price changes on the stock market varies depending on the methodology, time horizon, and the distinctive economic structure of the assessed country.…”

Section: Literature Reviewmentioning

confidence: 99%