International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

 

An Analysis of the Relationships between Financial Indicators and Energy Prices among the OECD Countries
Assist. Prof. Dr. Ayhan KAPUSUZOGLU, Prof. Dr. Mehmet Baha KARAN

Abstract
In this study, short and long term relationships between energy prices and market indicators of 24 OECD countries were investigated. The study was realized in the period of June 2001 – March 2009 and cointegration and causality tests were applied and the data were analyzed for each of the countries and the findings were evaluated. In conclusion, it is shown in this study that there are extensive and multidirectional relationships both among energy prices and financial indicators. For the moment, these findings don’t sufficiently support researches claiming that energy markets in the world and in Europe start to integrate. And for the moment, existing relationships can only be explained through individual countries’ factors regarding their energy markets and resources.

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