Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/194640 
Year of Publication: 
2017
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 5 [Issue:] 1 [Publisher:] Taylor & Francis [Place:] Abingdon [Year:] 2017 [Pages:] 1-17
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
This paper investigates the relationship between oil prices (Brent and West Texas Intermediate (WTI)) and Kuwait Stock Exchange (KSE) prices at the sector level. In a nonlinear autoregressive distributed lag (NARDL) model, ten major sectors in Kuwait are studied using daily data from 3 January 2000 to 9 December 2015 for some sectors, and 14 May 2012 to 9 December 2015 for others. The findings show asymmetric long run effects between oil prices and some Kuwait sectoral stock prices. For these sectors, the empirical results offer evidence of short run asymmetric effect in case of WTI price measure, but no evidence of asymmetry was found in case of Brent price.
Subjects: 
oil price
Kuwait stock exchange
nonlinear ARDL
unit root
JEL: 
G12
F3
Q43
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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