Open AccessOil Market Shocks and Financial Instability in Asian Countries
Author(s) -
Fakhri Hasanov
Publication year - 2021
Language(s) - English
Resource type - Reports
DOI - 10.30573/ks--2021-dp18
Subject(s) - economics , commodity , stock market , financial market , stock (firearms) , monetary economics , oil price , financial economics , financial system , finance , geography , context (archaeology) , archaeology
There is no commodity whose interlinkages with the macroeconomy have been studied as extensively as oil, starting with Hamilton’s (1983) seminal study. Thousands of subsequent studies have examined the relationship between oil prices and various economic variables, including the stock market. This strand of the literature began with the pioneering work of Kling (1985). Since then, other financial markets, such as banking, have also received a fair share of analysis.