Статья

Return and volatility transmission between oil price shocks and agricultural commodities

Z. Umar, M. Gubareva, M. Naeem, A. Akhter,
2021

This paper studies the connectedness between oil price shocks and agricultural commodities. Our sample period ranges from January 2002 to July 2020, covering the three global crises; Global Financial Crisis, the European sovereign debt crisis and Covid-19 pandemic crisis. We employ Granger causality tests, and the static and dynamic connectedness spillover index methodology. We find that the shocks in oil prices are Granger-caused mainly by price changes of grains, live cattle, and wheat, while supply shock granger causes variations mostly in grain prices. We find that, from the point of view of static connectedness, for both, price and volatility spillovers, the livestock is the largest transmitter, while the lean hogs are the major receiver. Our dynamic analysis evidences that connectedness increases during the financial crisis period. Our results are potentially useful for investors, portfolios managers and policy makers. © 2021 Umar et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

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Версии

  • 1. Version of Record от 2021-04-27

Метаданные

Об авторах
  • Z. Umar
    College of Business, Zayed University, Abu Dhabi, United Arab Emirates
  • M. Gubareva
    South Ural State University, Chelyabinsk, Russian Federation
  • M. Naeem
    ISCAL - Lisbon Accounting and Business School, Instituto Politécnico de Lisboa, Lisbon, Portugal
  • A. Akhter
    SOCIUS, CSG - Research in Social Sciences and Management Rua Miguel Lupi, Lisbon, Portugal
Название журнала
  • PLoS ONE
Том
  • 16
Выпуск
  • 2 February 2021
Страницы
  • -
Ключевые слова
  • petroleum; sugar; petroleum; agriculture; Article; bovine; cacao; coffee; coronavirus disease 2019; econometric model; financial crisis; financial deficit; grain; livestock; nonhuman; pandemic; pig; price; soybean; wheat; agriculture; commercial phenomena; economics; epidemiology; European Union; human; Agriculture; Commerce; COVID-19; European Union; Humans; Petroleum; SARS-CoV-2
Издатель
  • Public Library of Science
Тип документа
  • journal article
Тип лицензии Creative Commons
  • CC
Правовой статус документа
  • Свободная лицензия
Источник
  • scopus