International records / OpenAlex research

Modelling the Relationship between Oil Price and Stock Markets in Net Oil-Exporting and Net Oil-Importing Countries: A Panel Data Approach

This study examines the relationship between oil price fluctuations and stock market performance in net oil-exporting and net oil-importing nations from March 2001 to December 2024. Using a panel data approach with static and dynamic models, we analyse five oil-exporting countries (Kuwait, Qatar, Saudi Arabia, Nigeria, and Indonesia) and seven oil-importing countries (Japan, Australia, the USA, the UK, Argentina, South Korea, and France). The results reveal a positive and significant correlation between oil prices and stock returns in oil-exporting countries. In contrast, oil-importing countri…