Dynamic correlation between oil and the stock market.. Does the status of the market and the origin of the shock matter?

Abstract

My thesis statement focused on a research regarding the dynamic correlation between oil and the stock market. More specifically, I examined whether oil price shocks and stock market returns have a time-varying relationship rathen than a constant one. My primary consideration was to realize whether oil price shocks of particular origins cause different effects on the stock market of oil importing and oil exporting countries