| dc.description.abstract | This study presents a comprehensive econometric analysis of the interplay between Brent crude oil prices and international stock indices, with a particular focus on Norway. Leveraging multiple models, namely ARDL, VAR, and GARCH, we explore the dynamic relationships and causality directions between Brent crude prices and these indices. Our findings underline a unique and strong short-term relationship between Brent crude prices and the Norwegian stock market, more so than other examined indices. This sensitivity of the Norwegian market to Brent crude price fluctuations is arguably a reflection of the nation's significant economic reliance on the petroleum sector. Contrarily, indices representing more diversified economies display a more muted correlation to Brent crude prices. Our study enhances the understanding of the temporal dynamics between global oil prices and equity markets, underscoring Norway's unique position. The findings contribute valuable insights to market participants and policymakers navigating the intricate interactions between energy prices and financial markets. | en_US |
