Dynamic Relationship between Oil Price and China Stock market
The paper takes the data from 1996:1 to 2009:12 as the research sample to deeply investigate the linkages between the oil price and China stock market. Empirical results show that there exists long term cointegration between oil price and China stock market. In the meanwhile, with economic situation changing and time passing, the correlation between oil price and China stock market changes at different periods. The impact of oil price on China stock market mainly concentrates in shortterm. According to the oil price fluctuations, policy makers and financial investors can avoid the financial risks in China stock market which are caused by the fluctuations of oil price by adjusting portfolios timely.
Oil Price Stock Price Sector Effects Oilprice China stockindices Dynamicrel ationship
Chunhong Li Zhongying Qi Tan Li Tang Jie Xiaona Wang
School of Management Harbin Institute of Technology Harbin, P.R. China, 150001 School of ManagementHarbin Institute of TechnologyHarbin, P.R. China, 150001
国际会议
广州
英文
1-4
2011-05-13（万方平台首次上网日期，不代表论文的发表时间）