Nexus between Crude Oil, Exchange Rate and Stock Market Returns: An Empirical Evidence from Indian Context

Authors

  • Guntur Anjana Raju Professor
  • Sanjeeta Shirodkar Junior Research Fellow sanjeetaparab@gmail.com
  • Shripad Ramchandra Marathe Research Schlor

Abstract

Crude oil is considered as a major resource of any developing country it may be either Oil importing or exporting countries. The present study examines the relationship between the Exchange rate, Crude oil and Stock market returns. The study analyse the monthly observations from 1st April 2003 to 31st March 2019 with the help of Co integration, Granger causality, Variance Decomposition. The overall findings of the study indicate a significant effect of Crude oil on USD/INR Exchange rate. Theoretically, an oil price shock may be transmitted as the collapse in Crude prices pushes down the domestic price of non-traded products and hence the real Exchange rate and returns from Stock Market.Keywords: Crude Oil, Exchange rate, Stock Market returns, Co-integration, Variance DecompositionJEL Classifications: E3, F31, Q4DOI: https://doi.org/10.32479/ijeep.9897

Downloads

Download data is not yet available.

Author Biographies

Guntur Anjana Raju, Professor

Professor and Programme Director for Doctor of Philosophy (Commerce), Goa Business School, Goa University, Goa, India

Sanjeeta Shirodkar, Junior Research Fellow sanjeetaparab@gmail.com

Working as a research scholar in Goa Business School

Shripad Ramchandra Marathe, Research Schlor

Working as a research scholar

Downloads

Published

2021-04-10

How to Cite

Raju, G. A., Shirodkar, S., & Marathe, S. R. (2021). Nexus between Crude Oil, Exchange Rate and Stock Market Returns: An Empirical Evidence from Indian Context. International Journal of Energy Economics and Policy, 11(3), 170–175. Retrieved from https://econjournals.com/index.php/ijeep/article/view/9897

Issue

Vol. 11 No. 3 (2021)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.