Wang, Yudong; Wu, Chongfeng; Yang, Li - In: Journal of Comparative Economics 41 (2013) 4, pp. 1220-1239
While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns. In this paper, we address this...