Portfolio Diversification and Oil Price Shocks: A Sector Wide Analysis

Ali, Mohsin; Azmi, Wajahat; Khan, Aftab

doi:10.32479/ijeep.7747

Cited by 3 publications

(3 citation statements)

References 33 publications

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“…The authors found that the exchange rate impacts the Firms negatively by having exposure to foreign sales. Ali and Khan (2019) studied the impact of oil prices on the Indian stock market using dynamic conditional correlation multivariate GARCH and wavelet transformation modelling approach. The author found that during 2007-2008, there was a negative correlation, but after the crisis, there was a positive correlation between the oil price and the exchange rate.…”

Section: Stock Marketmentioning

confidence: 99%

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The Relationship between Oil Prices and Exchange Rate: A Systematic Literature Review

Siddiqui

Ahmed

Naushad

et al. 2023

IJEEP

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Oil is among the enormously vital and most traded commodities globally, involving many forex transactions in the face of various types of shocks attributable to geopolitics, supply, demand, market crisis, etc. This study uses a systematic literature review approach to explore the Literature from the SCOPUS database considering the relationship between oil prices and exchange rates by analyzing the papers from 1998 to 2022 and includes the final 123 papers. This study emphasizes three objectives; Literature developed so far, standard methodologies and findings, and the research gaps which can be pursued in further studies. Findings show that vast literature is developed around these variables and sub-topics in various dimensions, such as the stock market, gold prices, economic growth, etc. Research around the variables has increased in the recent past, indicating the continued relevancy of the relationship. However, it can be due to increased access to higher education and research. This study also finds the gap in the literature and has implications for the policymakers in monetary and fiscal policy planning, as well as investors across the globe in making portfolio management strategies.

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Section: Stock Marketmentioning

confidence: 99%

“…Volatility spillover from oil prices to the stock market and exchange rate to the stock market and vice versa can also be observed across the studies. Volatility spillover has been studied in a large number of studies, particularly in the case of India and Vietnam (Ali et al, 2019;Drachal, 2018).…”

Section: Commonalitymentioning

confidence: 99%

The Relationship between Oil Prices and Exchange Rate: A Systematic Literature Review

Siddiqui

Ahmed

Naushad

et al. 2023

IJEEP

View full text Add to dashboard Cite

show abstract

“…Garg and Chauhan (2012) found that the Indian sectors such as auto, metal, banking, health care, technology, and real estate are highly related to the US and other developed markets. Ali et al (2019) reported reduced diversification in the Indian disaggregated stock market during the oil price movement. From the perspective of China (Cao et al, 2013) noticed a strong correlation between sectoral indices during market ups and down conditions, otherwise, it was lower.…”

Section: Literature Reviewmentioning

confidence: 99%

Linkages Between Oil Sectors Returns of Asian Emerging Stock Markets: Unearthing the Hidden Opportunity for Portfolio Diversificatio

Velip¹,

Raju²

2020

IJEEP

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The increase in the extent of integration between global markets declined the opportunity for international portfolio diversification. This in turn created the hurdles amongst the investors and therefore recently they either prefer less correlated emerging markets or asset allocation at sectoral level. In view of this, considering Asian emerging markets at the forefront of portfolio diversification venue globally, this research aims at examining the linkages and portfolio diversification prospects across the oil sectors of eight Asian emerging stock markets. The study used VAR based Causality/Block Exogeneity Wald test and Forecast Error Variance Decomposition to investigate the data period of January 01, 2004, to August 31, 2019. The results exhibited a weak form of linkages between Asian emerging markets oil sector indices and therefore, it would be a great platform for the portfolio managers and investors to reap diversification benefits in this region.

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<p>The Effects of Health Insurance on Health-Seeking Behaviour: Evidence from the Kingdom of Saudi Arabia</p>

Al-Hanawi

Mwale

Kamninga³

2020

RMHP

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Background: Saudi Arabia's healthcare sector is growing at a hasty stride; nevertheless, the quality of healthcare consumption remains challenged by the growing caseload in free public health facilities. Insurance could ease this pressure by moving some healthcare demand to private facilities conditional on its ability to enact health-seeking behaviour. These potential effects remain under-investigated. Therefore, the aim of this study was to investigate whether health insurance nudges health-seeking behaviour using data from Saudi Arabia. Materials and Methods: The study used nationally representative secondary data, obtained from the Family Health Survey, conducted in 2018, in Saudi Arabia. Health-seeking behaviour was measured by individual attendance of medical check-up. To account for endogeneity due to non-random selection of individuals into insurance, the analysis employed the inverse propensity weighting and the instrumental variables methods. Results: The results revealed that health insurance leads to increased chances of going for medical check-up. The effects are higher amongst non-Saudi nationals relative to citizens. Furthermore, people who purchase personal health insurance schemes are more likely to go for checks-ups, followed by individuals provided by the private sector and government sector. Finally, the study found that insurance positively nudges hypertension, diabetes, and cholesterol specific medical check-ups. Conclusion:The findings indicated the need for health policy to increase access to health insurance in Saudi Arabia. A notable policy response is the introduction of national health insurance coverage, which has already proven in other countries as an effective measure to attain universal access to improved health. Nevertheless, results from this study highlighted variations in demand for health seeking based on type of insurance with highest returns in personal insurance. Policy should leverage on this behaviour response by introducing insurance packages that share premiums with citizens to incentivise utilisation. The results can also be used to design policy responses to demand for insurance, in the entire Arabian Gulf region, since these countries have similar health financing mechanism with Saudi Arabia.

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Portfolio Diversification and Oil Price Shocks: A Sector Wide Analysis

Cited by 3 publications

References 33 publications

The Relationship between Oil Prices and Exchange Rate: A Systematic Literature Review

The Relationship between Oil Prices and Exchange Rate: A Systematic Literature Review

Linkages Between Oil Sectors Returns of Asian Emerging Stock Markets: Unearthing the Hidden Opportunity for Portfolio Diversificatio

<p>The Effects of Health Insurance on Health-Seeking Behaviour: Evidence from the Kingdom of Saudi Arabia</p>

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