1
Ph.d student of economics, University of Sistan and Baluchestan
2
Associated professor of economics, University of Sistan and Baluchestan
3
Ms student of economics, University of Tehran
Abstract
The main purpose of this study is to investigate the effect of global oil price fluctuations on the return on stock of refining industries in Iran. Using the Granger causality method, this study examines the relationship between the stock index variables of refining industries on oil prices and exchange rates in each of these two periods separately. The results of the article on the upward trend between the stock index and the oil price causal bilateral oil price, between the exchange rate and the unilateral causal stock price (from the stock index to the exchange rate) and between the oil price and the exchange rate, unilateral causality (from the oil price to the exchange rate Confirms. There is no causal relationship between the stock index and the oil price and also between the stock index and the exchange rate, and these variables do not affect each other. Also, in the declining trend between the oil price and the exchange rate, there is a one-way causal relationship Currency) there. The experimental findings of this paper provide useful reasons for investors and policymakers who need to recognize the impact of oil price fluctuations on stock returns in different trends.
naderpour, K., Zamanian, G., & Abdollahpour, S. (2017). The Effect of global oil price fluctuations on the return on stock of refining industries in Iran and It's Policy implications. Economic Strategy, 6(23), 117-138.
MLA
kolsoom naderpour; Gholamreza Zamanian; Sepehr Abdollahpour. "The Effect of global oil price fluctuations on the return on stock of refining industries in Iran and It's Policy implications". Economic Strategy, 6, 23, 2017, 117-138.
HARVARD
naderpour, K., Zamanian, G., Abdollahpour, S. (2017). 'The Effect of global oil price fluctuations on the return on stock of refining industries in Iran and It's Policy implications', Economic Strategy, 6(23), pp. 117-138.
VANCOUVER
naderpour, K., Zamanian, G., Abdollahpour, S. The Effect of global oil price fluctuations on the return on stock of refining industries in Iran and It's Policy implications. Economic Strategy, 2017; 6(23): 117-138.
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