The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis

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SHAKERI ABBAS; MOHAMMADI TEYMOUR; JAFARI MOHAMMAD

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Journal: ECONOMIC RESEARCH REVIEW Year:2019 | Volume:19 | Issue:74 Page(s): 1-38

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Information Journal Paper

Title

The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis

Author(s)

SHAKERI ABBAS | MOHAMMADI TEYMOUR | JAFARI MOHAMMAD | Issue Writer Certificate

Keywords

financial crisisQ1

Oil marketQ2

Futures marketQ1

VAR ModelQ2

Abstract

The significance of Oil market and its impact on economic growth in oil-exporting and oil-consuming countries has led to examination of factors affecting it in different studies. Financial market and its components have penetrated in traditional Oil market and this has resulted in creation of exchanges to trade oil-related securities. Therefore, the importance of financial markets has emerged not as an exogenous variable but as an endogenous variable within the Oil market. Scientific results of the research demonstrate that the long-term impact of Futures markets on the Oil market is definite, however during the crises, due to the concerns about complicated crisis conditions, the effective time horizon becomes short-term, and consequently it is the spot market that influences future variables. Therefore, it is suggested that, in order to prevent the impact of global financial crises on the state’ s budget, we have to monitor the financial markets and also participate in oil Futures market which has the advantage of generating risk coverage and ensuring the country’ s budget to become secure against price fluctuations of international markets. Finally, by undertaking a wise strategy of speculation, we can take advantage of potential opportunities, if supported by domestic financial institutions and Ministry of Petroleum and, therefore, earn the country tremendous revenues.

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APA: Copy

SHAKERI, ABBAS, MOHAMMADI, TEYMOUR, & JAFARI, MOHAMMAD. (2019). The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis. ECONOMIC RESEARCH REVIEW, 19(74 ), 1-38. SID. https://sid.ir/paper/372548/en

Vancouver: Copy

SHAKERI ABBAS, MOHAMMADI TEYMOUR, JAFARI MOHAMMAD. The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis. ECONOMIC RESEARCH REVIEW[Internet]. 2019;19(74 ):1-38. Available from: https://sid.ir/paper/372548/en

IEEE: Copy

ABBAS SHAKERI, TEYMOUR MOHAMMADI, and MOHAMMAD JAFARI, “The Effect of Financial Markets Volatilities on Oil Market; An Emphasis on 2008 Financial Crisis,” ECONOMIC RESEARCH REVIEW, vol. 19, no. 74 , pp. 1–38, 2019, [Online]. Available: https://sid.ir/paper/372548/en

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