Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/249578 
Year of Publication: 
2021
Citation: 
[Journal:] Pakistan Journal of Commerce and Social Sciences (PJCSS) [ISSN:] 2309-8619 [Volume:] 15 [Issue:] 4 [Publisher:] Johar Education Society, Pakistan (JESPK) [Place:] Lahore [Year:] 2021 [Pages:] 736-764
Publisher: 
Johar Education Society, Pakistan (JESPK), Lahore
Abstract: 
Energy is one of the most basic requirements of modern economic life in the world. The international oil prices and stock markets have important relationships with each other. This paper examines the impact of crude oil price growth on stock market crashes at different levels of financial stability. This paper uses logistic regression and STATA to conduct analysis of data. Using a sample of MENA region countries from 1988 to 2017, we find that crude oil price growth negatively impacts stock market crashes only during the average level of financial stability. The impact is insignificant at either a higher or lower level of financial stability. These results are also robust to controlling for a financial crisis period.
Subjects: 
crude oil prices
financial stability
sovereign credit ratings
stock marketcrashes
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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