Relationship between oil prices and stock prices in brics-t countries: Symmetric and asymmetric causality analysis
Abubakirova A. Syzdykova A. Dosmakhanbet A. Kudabayeva L. Abdulina G.
2021Econjournals
International Journal of Energy Economics and Policy
2021#11Issue 3140 - 148 pp.
In this study, by considering the period between January 2010 and December 2019 of BRICS-T countries, the relationship between oil prices and stock prices was examined through the Hatemi-J asymmetric causality test (2012). The stationarity levels of the series were determined by augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests. Hatemi (2012) asymmetric causality test, which takes into account the presence of asymmetric information in financial markets by distinguishing positive and negative shocks, was used. Accordingly, hidden relationships that could not be detected using the symmetric causality test were revealed with the help of the asymmetric causality test.
Asymmetric Causality , BRICS-T , Oil Prices , Stock Prices
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Department of Tourism, Khoja Akhmet Yassawi International Kazakh, Turkish University, Turkestan, Kazakhstan
Department of Finance and Accounting, Khoja Akhmet Yassawi International Kazakh, Turkish University, Turkestan, Kazakhstan
M.Kh.Dulaty Taraz Regional University, Taraz, Kazakhstan
Narxoz University, Almaty, Kazakhstan
Department of Tourism
Department of Finance and Accounting
M.Kh.Dulaty Taraz Regional University
Narxoz University
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