کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7373799 1479769 2018 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The relationship between oil prices, the stock market and the exchange rate: Evidence from Mexico
ترجمه فارسی عنوان
رابطه بین قیمت نفت، بازار سهام و نرخ ارز: شواهد از مکزیک
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper analyzes the variables of oil price, exchange rate and stock market index to explain how they interact with each other in the Mexican economy. The examined period includes monthly data from January 1992 to June 2017. A Vector Autoregressive Model (VAR) is implemented that includes oil prices, the nominal exchange rate, the Mexican stock market index, and the consumer price index. Results indicate that the exchange rate has a negative and statistically significant effect on the stock market index; this indicates that an appreciation of the exchange rate is related to an increase in the stock market index. It is also found that the consumer price index has a positive effect on the exchange rate and a negative effect on the stock market index. The results also indicate that oil prices are statistically significant against the exchange rate, concluding that an increase in oil prices creates an appreciation of the exchange rate. In addition, the impulse-response functions show that the effects found tend to disappear over time.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The North American Journal of Economics and Finance - Volume 45, July 2018, Pages 266-275
نویسندگان
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