Dynamic spillover effects between EU economic sanctions against Russia, oil prices, and share prices of energy companies in third countries: evidence from China and the USA.
Environ Sci Pollut Res Int
; 31(13): 19381-19395, 2024 Mar.
Article
em En
| MEDLINE
| ID: mdl-38358622
ABSTRACT
This study establishes a comprehensive suite of sanction indices and employs the time-varying vector autoregressive dynamic spillover index (TVP-VAR-DY) model, to examine the spillover effects of EU economic sanctions against Russia on oil prices and share prices of third-country energy companies, as well as takes China and the USA as examples for analysis. The findings indicate that sanctions targeting the energy sector are the primary drivers of volatility in oil prices and energy company stock prices. The impact on Chinese energy firms' stock prices is more pronounced, while the effects on their American counterparts are more enduring. The indirect impact of EU sanctions on Russia on China is greater than that of the USA. Both direct and indirect sanctions exhibit comparable spillover effects on oil and stock prices. Direct sanctions have better explanatory power for stock price fluctuations, while indirect sanctions have better explanatory power for oil price fluctuations.
Palavras-chave
Texto completo:
1
Temas:
ECOS
/
Aspectos_gerais
/
Financiamentos_gastos
Bases de dados:
MEDLINE
Assunto principal:
Política
/
Economia
/
Políticas
Tipo de estudo:
Health_economic_evaluation
/
Prognostic_studies
País/Região como assunto:
America do norte
/
Asia
/
Europa
Idioma:
En
Revista:
Environ Sci Pollut Res Int
Assunto da revista:
SAUDE AMBIENTAL
/
TOXICOLOGIA
Ano de publicação:
2024
Tipo de documento:
Article
País de afiliação:
China