The Impact of Oil Price and Exchange Rate Changes on Stock Prices: The Case of Mexico and Brazil

Nuray Yuzbaşıoğlu

Makale detayları

The Impact of Oil Price and Exchange Rate Changes on Stock Prices: The Case of Mexico and Brazil

Yazarlar:

Nuray Yuzbaşıoğlu

Yayıncı:

Kastamonu University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.26 Issue 1, pp.167-183

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320926

pISSN:

2147-6012

Anahtar kelimeler:

Özet:

 This study aims to analyze the reactions of the stock markets in Mexico and Brazil to changes in oil prices and exchange rates. The research was conducted using panel data analysis methods, considering stock prices such as Mexicos MXX index and Brazils BVSP index, as well as oil prices and exchange rates, for the period from January 2000 to December 2020. The study is based on two models. In the first model, it is found that when the exchange rate and oil prices are fixed, stock prices in Mexico are lower than those in Brazil. This suggests that the stock markets in the two countries perform at different levels. Additionally, it is concluded that increases in oil prices lead to higher stock prices in both countries and similarly, changes in exchange rates also affect stock prices. In other words, increases in oil prices and fluctuations in exchange rates have significant effects on the stock markets of both countries. In the second model, it is concluded that changes in oil prices and exchange rates in Mexico and Brazil have an equal impact on the stock markets. This indicates that the stock markets of both countries react similarly to changes in oil prices and exchange rates. The results show that the financial markets of Mexico and Brazil have different dynamics, and they respond to changes in oil prices and exchange rates at varying levels. This study provides important information for investors and financial analysts about how the stock markets of these two countries may be affected.

 This study aims to analyze the reactions of the stock markets in Mexico and Brazil to changes in oil prices and exchange rates. The research was conducted using panel data analysis methods, considering stock prices such as Mexicos MXX index and Brazils BVSP index, as well as oil prices and exchange rates, for the period from January 2000 to December 2020. The study is based on two models. In the first model, it is found that when the exchange rate and oil prices are fixed, stock prices in Mexico are lower than those in Brazil. This suggests that the stock markets in the two countries perform at different levels. Additionally, it is concluded that increases in oil prices lead to higher stock prices in both countries and similarly, changes in exchange rates also affect stock prices. In other words, increases in oil prices and fluctuations in exchange rates have significant effects on the stock markets of both countries. In the second model, it is concluded that changes in oil prices and exchange rates in Mexico and Brazil have an equal impact on the stock markets. This indicates that the stock markets of both countries react similarly to changes in oil prices and exchange rates. The results show that the financial markets of Mexico and Brazil have different dynamics, and they respond to changes in oil prices and exchange rates at varying levels. This study provides important information for investors and financial analysts about how the stock markets of these two countries may be affected.

 This study aims to analyze the reactions of the stock markets in Mexico and Brazil to changes in oil prices and exchange rates. The research was conducted using panel data analysis methods, considering stock prices such as Mexicos MXX index and Brazils BVSP index, as well as oil prices and exchange rates, for the period from January 2000 to December 2020. The study is based on two models. In the first model, it is found that when the exchange rate and oil prices are fixed, stock prices in Mexico are lower than those in Brazil. This suggests that the stock markets in the two countries perform at different levels. Additionally, it is concluded that increases in oil prices lead to higher stock prices in both countries and similarly, changes in exchange rates also affect stock prices. In other words, increases in oil prices and fluctuations in exchange rates have significant effects on the stock markets of both countries. In the second model, it is concluded that changes in oil prices and exchange rates in Mexico and Brazil have an equal impact on the stock markets. This indicates that the stock markets of both countries react similarly to changes in oil prices and exchange rates. The results show that the financial markets of Mexico and Brazil have different dynamics, and they respond to changes in oil prices and exchange rates at varying levels. This study provides important information for investors and financial analysts about how the stock markets of these two countries may be affected.

 Bu çalışmada, Meksika ve Brezilya hisse senedi piyasalarının petrol fiyatı ve döviz kuru değişimlerine tepkilerini analiz etmeyi hedeflemektedir. Araştırmada, Ocak 2000 - Aralık 2020 dönemine ait Meksikanın MXX endeksi ve Brezilyanın BVSP endeksi gibi hisse senedi fiyatları ile petrol fiyatı ve döviz kuruna ilişkin panel veri analizi yöntemini kullanarak gerçekleştirilmiştir. Çalışma iki model üzerine kurulmuştur. İlk modelde, döviz kuru ve petrol fiyatları sabitken Meksikadaki hisse senedi fiyatlarının Brezilyadaki hisse senetlerine göre daha düşük olduğu belirlenmiştir. Bu iki ülke arasında hisse senedi piyasalarının farklı düzeylerde performans gösterdiğini göstermektedir. Her iki ülkede de petrol fiyatlarındaki artışların hisse senedi fiyatlarını artırdığı ve benzer şekilde döviz kurundaki değişimlerin de hisse senedi fiyatlarını etkilediği sonucuna varılmıştır. Yani, petrol fiyatlarındaki artışlar ve döviz kurundaki değişimler, her iki ülkenin hisse senedi piyasaları üzerinde önemli etkilere sahip olduğu sonucuna varılmıştır. İkinci modelde ise Meksika ve Brezilyada petrol fiyatı ve döviz kuru değişimlerinin hisse senedi piyasalarını aynı seviyede etkilediği sonucuna ulaşılmıştır. Bu, her iki ülkenin hisse senedi piyasalarının benzer şekilde petrol fiyatı ve döviz kuruna tepki verdiği sonucu tespit edilmiştir. Elde edilen sonuçlara göre Meksika ve Brezilyanın finansal piyasalarının farklı dinamiklere sahip olduğunu ve petrol fiyatı ile döviz kuru değişimlerine farklı düzeylerde tepki verdiğini göstermektedir. Bu çalışma, yatırımcılar ve finansal analistler için bu iki ülkenin hisse senedi piyasalarının nasıl etkilenebileceğine dair önemli bilgiler sunmaktadır.

Makale detayları

The Impact of Oil Price and Exchange Rate Changes on Stock Prices: The Case of Mexico and Brazil

Yazarlar:

Nuray Yuzbaşıoğlu

Yayıncı:

Kastamonu University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.26 Issue 1, pp.167-183

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320926

pISSN:

2147-6012

Stock

Exchange rate

financial markets

Oil prices

Panel dataHisse senedi

Döviz kuru

finansal piyasalar

Petrol fiyatları

Paneli veri

Sayı

Makale detayları

Yazarlar: Nuray Yuzbaşıoğlu

Yayıncı: Kastamonu University

Ana Başlıklar: Finansal Ekonomi

Dergi: Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.26 Issue 1, pp.167-183

Belge Tipi: Makale

Yayın Tarihi: 6/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001320926

pISSN: 2147-6012

Sayı

Yazarlar:

Nuray Yuzbaşıoğlu

Yayıncı:

Kastamonu University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.26 Issue 1, pp.167-183

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320926

pISSN:

2147-6012