US partisan conflict uncertainty and oil prices
Journal article
Authors | Apergis, Nicholas, Hayat, Tasawar and Saeed, Tareq |
---|---|
Abstract | This empirical study significantly contributes in building emerging literature by investigating the impact of US partisan conflict uncertainty on international oil prices. It models oil prices through non-linear Quantile Autoregressive Distributed Lag (QARDL) methods in order to consider potential (non-linear) asymmetric effects of partisan political uncertainty on oil prices. The empirical results clearly document the asymmetric (non-linear) impact of partisan conflict uncertainty on international oil prices, which has been in contrast to the linear case. The findings also expose that the transmission mechanism of partisan political uncertainty to oil prices is validated through the economic growth channel. The empirical findings contribute to existing research by assisting investors in the oil industry with risk identification, analysis, and mitigation. The results can assist in discovering the links between US political risk and oil markets, determining an important element of political risk factors facing investors who want to participate in the oil industry. |
Keywords | General Energy; Management, Monitoring, Policy and Law |
Year | 2021 |
Journal | Energy Policy. |
Journal citation | 150, p. 112118 |
Publisher | Elsevier BV |
ISSN | 0301-4215 |
Digital Object Identifier (DOI) | https://doi.org/10.1016/j.enpol.2020.112118 |
Web address (URL) | http://hdl.handle.net/10545/625751 |
https://www.elsevier.com/tdm/userlicense/1.0/ | |
http://creativecommons.org/licenses/by-nc-sa/4.0/ | |
hdl:10545/625751 | |
Publication dates | 13 Jan 2021 |
Publication process dates | |
Deposited | 07 May 2021, 09:59 |
Accepted | 27 Dec 2020 |
Rights | © 2020 Elsevier Ltd. All rights reserved. |
Attribution-NonCommercial-ShareAlike 4.0 International | |
Contributors | University of Derby, King Abdulaziz, University, Saudi Arabia and Quaid-I-Azam University, Pakistan |
File | File Access Level Open |
File | File Access Level Open |
https://repository.derby.ac.uk/item/9321x/us-partisan-conflict-uncertainty-and-oil-prices
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