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Connectedness of en...
Connectedness of energy markets around the world during the COVID-19 pandemic
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- Akyildirim, Erdinc (författare)
- Bogazici Univ, Turkey; Univ Zurich, Switzerland
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- Cepni, Oguzhan (författare)
- Copenhagen Business Sch, Denmark; Cent Bank Republ Turkey, Turkey
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- Molnar, Peter (författare)
- Univ Stavanger, Norway; Prague Univ Econ & Business, Czech Republic; Nicolaus Copernicus Univ Torun, Poland
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- Uddin, Gazi Salah (författare)
- Linköpings universitet,Nationalekonomi,Filosofiska fakulteten
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(creator_code:org_t)
- ELSEVIER, 2022
- 2022
- Engelska.
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Ingår i: Energy Economics. - : ELSEVIER. - 0140-9883 .- 1873-6181. ; 109
- Relaterad länk:
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https://liu.diva-por... (primary) (Raw object)
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https://doi.org/10.1...
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https://urn.kb.se/re...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- This paper studies the connectedness among energy equity indices of oil-exporting and oil-importing countries around the world. For each country, we construct time-varying measures of how much shocks this country transmits to other countries and how much shocks this country receives from other countries. We analyze the network of countries and find that, on average, oil-exporting countries are mainly transmitting shocks, and oil-importing countries are mainly receiving shocks. Furthermore, we use panel data regressions to evaluate whether the connectedness among countries is influenced by economic sentiment, uncertainty, and the global COVID-19 pandemic. We find that the connectedness among countries increases significantly in periods of uncertainty, low economic sentiment, and COVID-19 problems. This implies that diversification benefits across countries are severely reduced exactly during crises, that is, during the times when diversification benefits are most important.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Energy markets; Connectedness; COVID-19; Uncertainty
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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