Iraqi Stock Exchange Reactions to the Oil Price, COVID-19 Aftermath, and the Saudi Stock Exchange Movements pre-during Vaccination Program

International Journal of Energy Economics and Policy, 12(5), 18–30. https://doi.org/10.32479/ijeep.13323

13 Pages Posted: 7 Oct 2022

See all articles by Zeravan Asaad

Zeravan Asaad

Cihan University - Duhok

Amjad Al-Delawi

Cihan University-Duhok - Cihan University - Duhok

Date Written: September 27, 2022

Abstract

The study attempts to understand the influence of Brent oil price per barrel (BOP), the general index of 30 stocks in Saudi Arabia (MSCI30), the number of Covid-19 new infected cases (NIC_19), ounce gold price (OGP), and US dollar base to Iraqi Dinar exchange rate (USD_IQD) upon Iraq stock exchange (ISX60) using the daily period (25 February 2020 to 15 July 2021) divided into three subperiod; whole period pre-during covid-19, pre-Covid-19 and during Covid-19 vaccination process. The results indicate the long-run relationship between the regressors and the Iraq stock exchange in the subperiod before Covid-19 and during the Covid-19 vaccination process but did not appear for the whole period pre-during the covid-19 vaccination process. The results reveal a positive influence of (MSCI30 and USD_IQD) on ISX60 in the long term for a period before the Covid-19 vaccination process. And, the results indicate a negative influence of (BOP and OGP) respectively on (ISX60) in the long term, and (MSCI30) positively leads ISX60 in the long term during the Covid-19 vaccination process. The results are crucial to governments, investors, and policymakers because the Iraqi economic movements and stock exchange development need more highlight in the further studies, especially the vaccine discovery consequences.

Keywords: Brent Oil Price, Exchange Rate, Stock Market, Middle East, Covid-19

JEL Classification: Q43, F31, D53, E44

Suggested Citation

Asaad, Zeravan and Al-Delawi, Amjad, Iraqi Stock Exchange Reactions to the Oil Price, COVID-19 Aftermath, and the Saudi Stock Exchange Movements pre-during Vaccination Program (September 27, 2022). International Journal of Energy Economics and Policy, 12(5), 18–30. https://doi.org/10.32479/ijeep.13323, Available at SSRN: https://ssrn.com/abstract=4235330 or http://dx.doi.org/10.2139/ssrn.4235330

Zeravan Asaad (Contact Author)

Cihan University - Duhok ( email )

Hawshky - Behind Tenahi Complex, Duhok City – Kurd
Duhok, Kurdistan Region 42001
Iraq

HOME PAGE: http://https://orcid.org/my-orcid?orcid=0000-0003-2779-8297

Amjad Al-Delawi

Cihan University-Duhok - Cihan University - Duhok

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