Dr. Shahriar Hasan from the Depatment of Accounting and Finance and Dr. Mohammad Mahbobi from the Department of Economics at Thompson Rivers University have published their research entitled “The Increasing Influence of Oil Prices on the Canadian Stock Market” in The International Journal of Business and Finance Research. Their research examines the influence of oil prices on Canadian stock market using causality tests between oil prices, Canadian to US dollar exchange rate and the TSX index. They find that in the last three years, the impact of oil prices on the TSX index has become much more pronounce than that of the preceding 18 years. Meanwhile the exchange rate has become less powerful in predicting the TSX index. The authors find that the weaker exchange rate TSX correlation has taken shape after the North American financial markets slump in late 2008.
Has there been lately an increased influence of oil prices on the Canadian stock market?
October 10, 2012
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