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Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute

Economics and Business

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ISSN 2775-9237 (Online)

asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
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Published: 25 July 2022

Nonlinear Spillover and Dynamic Connectedness Between International Crude Oil and Dow Jones Islamic Market

Mariwan Ali

Zhejiang Gongshang University, China

asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, management journal

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doi

10.31014/aior.1992.05.03.438

Pages: 82-89

Keywords: Nonlinear Spillover, Crude Oil, Islamic Market

Abstract

This study examines crude oil prices throughout the world, as well as significant stock returns of European oil importers and exporters (the UK, Germany, France, Italy, Switzerland, and the Netherlands) (Norway and Russia). Indexes of sustainability stocks have a greater correlation with countries that import oil than with those that export oil. There was a stronger correlation between oil prices and stock prices both during and after the global financial meltdown in 2008. Study findings reveal a strong correlation between worldwide crude oil prices and major indices of countries that purchase or export oil. Our results have the potential to assist socially aware investors in hedging and diversifying their portfolios.

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