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:: Volume 2, Issue 1 (Quarterly Journal Of Energy Policy and Planning Research 2016) ::
2016, 2(1): 169-194 Back to browse issues page
07 Influence of Financial Markets on Global Index and Iranian Crude Oil Price
Abstract:   (3600 Views)


Empirical studies show that the oil price volatility causes structural problems (such as commercial payment problems and budget problems) in Iran’s economy. Realizing the mechanism of oil price formation can decrease the risk of oil price volatility and its negative effects on Iran’s economy. The formation of oil price has been changing with the development of oil exchange and future markets so that in short time with the change in the interest rate, the liquidity flow between financial markets and oil market and the price of crude oil deviate from its long-time  path. In this paper, we investigate the deviation of crude oil price from its long-term path with respect to relationships between these markets. For this purpose, as well as multivariate GARCH technique method Fisher price jump model and Frankel theory are applied to test this relationship with using daily time series of the crude oil during 2005-13 across different areas (different markets).

Keywords: Crude Oil, Interest Rate, Capital Market Index
Full-Text [PDF 1434 kb]   (1657 Downloads)    
Type of Study: Research | Subject: Special
Received: 2015/08/25 | Accepted: 2016/11/22 | Published: 2016/11/22
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07 Influence of Financial Markets on Global Index and Iranian Crude Oil Price. Quarterly Journal of Energy Policy and Planning Research. 2016; 2 (1) :169-194
URL: http://epprjournal.ir/article-1-99-en.html


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Volume 2, Issue 1 (Quarterly Journal Of Energy Policy and Planning Research 2016) Back to browse issues page
مجله پژوهش های برنامه ریزی و سیاستگذاری انرژی Journal of Energy Planning And Policy Research
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