Exploring the nexus between oil prices and sectoral stock prices: Nonlinear evidence from Kuwait stock exchange

Artikel

This paper investigates the relationship between oil prices (Brent and West Texas Intermediate (WTI)) and Kuwait Stock Exchange (KSE) prices at the sector level. In a nonlinear autoregressive distributed lag (NARDL) model, ten major sectors in Kuwait are studied using daily data from 3 January 2000 to 9 December 2015 for some sectors, and 14 May 2012 to 9 December 2015 for others. The findings show asymmetric long run effects between oil prices and some Kuwait sectoral stock prices. For these sectors, the empirical results offer evidence of short run asymmetric effect in case of WTI price measure, but no evidence of asymmetry was found in case of Brent price.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 5 ; Year: 2017 ; Issue: 1 ; Pages: 1-17 ; Abingdon: Taylor & Francis

Classification and Topics

• Classification: Wirtschaft ; Asset Pricing; Trading Volume; Bond Interest Rates ; Energy and the Macroeconomy
• Subject: oil price ; Kuwait stock exchange ; nonlinear ARDL ; unit root

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Kisswani, Khalid M. ; Elian, Mohammad I.
• Event: Veröffentlichung
• (who): Taylor & Francis
• (where): Abingdon
• (when): 2017

Further information

• DOI: doi:10.1080/23322039.2017.1286061
• Handle: http://hdl.handle.net/10419/194640
• Last update: 10.03.2025, 11:43 AM CET