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Published in:
2013 | OriginalPaper | Chapter
A VAR Approach to the Analysis of the Relationship between Oil Prices and Industry Equity Returns
Authors : Joseph Falzon, Daniel Castillo, M.Sc.
Published in: Bank Performance, Risk and Securitization
Publisher: Palgrave Macmillan UK
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Oil-related issues repeatedly dominate international news and economic policy discussions, especially as the price of this commodity escalates. Episodes occur with apparent regularity which create supply and demand uncertainty in the oil market, and as a consequence tend to affect its price. The major events since 1970s can be tentatively summarized as the formation of the Organization of Petroleum Exporting Countries (OPEC), major conflicts in oil-exporting regions, and the recent emergence of accelerated growth in developing economies.