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This paper aims to analyse the asymmetric impacts of world oil price on macroeconomic variables in Vietnam, including domestic oil price, inflation and output growth.

The mixed data sampling (MIDAS) approach is employed to examine the impact of world oil price changes on macroeconomic variables as the former is high-frequency data (daily), and the latter is low-frequency data, usually monthly or quarterly.

Changes in world oil price cause asymmetric impacts on domestic oil price and inflation, but no significant effects on output growth. In terms of magnitude, a positive change in world oil price causes a stronger effect than a negative change in world oil price. In terms of timing, a positive change in world oil price causes a slow pass-through impact on domestic oil price and inflation. Meanwhile, domestic oil price and inflation decrease quickly following a negative change in world oil price.

This study investigates the asymmetric impact of oil price on the Vietnam economy in terms of both magnitude and timing, which is not explored by previous studies. In addition, it exploits daily information of oil price changes to analyse macroeconomic variables in lower frequency by employing MIDAS approach.

The purpose of this paper is to investigate and compare the impact of oil and gas prices changes on bank deposits at the aggregate as well as at the level of commercial and Islamic banks in Qatar over the period 2000–2016.

Using the BankScope Database as well as bank-level balance sheet and financial statements data, the authors use one-step system GMM dynamic model to examine and compare the association between oil and gas prices changes with bank deposits in Qatar. The authors also test hypotheses of direct and indirect impacts of oil and gas prices changes on bank deposits.

The results indicate that oil and gas prices changes have a direct impact on deposits of banks at the aggregate level in Qatar. However, the authors find that oil and gas price changes significantly affect deposits of Qatari commercial banks directly prompting enhanced lending by banks and the consequent business activities in the economy, while their impact on the deposits of Qatari Islamic banks is indirect, i.e. the impact is permeated through the macroeconomic and institutional characteristics of the country that are reinforced by the growing expectations and commercial sentiment of the country. The authors find that significant association between oil price changes and deposit growth during the global financial crisis 2008 has been distorted. However, the authors find that there was a sharp rise in the deposits of Islamic banks during the period of global financial crisis.

The results of this study necessitate policy measures that can counter the effects of changes in oil and gas prices on the effectiveness of bank deposits.

It is widely recognized that oil and gas prices and the level of production are of great importance to the economic development of oil and gas exporting countries. So far, however, no econometric study has been reported in the literature which analyses and compares the impact of oil and gas prices changes on bank deposits of commercial and Islamic banks and also at the aggregate level in any of the oil-exporting economies. Thus, this study provides the first empirical evidence on distinct direct and indirect channels through which oil and gas prices changes may affect bank deposits.

Using a GED-GARCH model to estimate monthly data from January 1990 to February 2022, we test whether gold acts as a hedge or safe haven asset in 10 countries. With a downturn of the stock market, gold can be viewed as a hedge and safe haven asset in the G7 countries. In the case of inflation, gold acts as a hedge and safe haven asset in the United States, United Kingdom, Canada, China, and Indonesia. For currency depreciation, oil price shock, economic policy uncertainty, and US volatility spillover, evidence finds that gold acts as a hedge and safe haven for all countries.

The purpose of this paper is to examine the effect of crude oil prices on the Nigerian exchange rate with emphasis on discriminating between the effects of positive and negative changes in oil price on exchange rate.

The authors used monthly time series data from 1996:1 to 2019:6 and adopted two oil price measures, namely, Brent crude and West Texas Intermediary prices. For analysis, the authors used stepwise least squares to estimate a non-linear ARDL (NARDL) model and Wald tests to determine cointegration and the presence of asymmetric effects.

The findings showed that positive and negative Brent crude price changes significantly affect exchange rates differently in nominal terms, both in the long-run and short-run. However, the differences were purely in terms of effect size because the exchange rate decreased for both negative and positive oil price changes.

Whilst empirical research on asymmetries in the effect of oil price on exchange rate abounds, little evidence exists in Nigeria’s case. Although some studies previously tested for asymmetric oil price effects on the Nigerian currency, the approach used did not estimate long and short-run effects or test of long-run and short-run asymmetries. This paper fills this methodological gap using monthly using the NARDL approach. The NARDL approach provided the advantage of estimating effects for the long-run and short-run and testing for asymmetries in both time spans.

This paper aims to explore the extreme effect of crude oil price fluctuations and its volatility on the economic growth of Middle East and North Africa (MENA) countries. It also investigates the asymmetric and dynamic relationship between oil price and economic growth. Further, a separate analysis for each MENA oil-export and oil-import countries is conducted. Furthermore, it studies to what extent the quality of institutions will change the effect of oil price fluctuations on economic growth.

As the effect of oil price fluctuations is not the same over different business cycles or oil price levels, the paper uses a panel quantile regression approach with other linear models such as fixed effects, random effects and panel generalized method of moments. The panel quantile methodology is an extension of traditional linear models and it has the advantage of exploring the relationship over the different quantiles of the whole distribution.

The paper can summarize results as following: changes in oil price and its volatility have an opposite effect for each oil-export and oil-import countries; for the former, changes in oil prices have a positive impact but the volatility a negative effect. While for the latter, changes in oil prices have a negative effect but volatility a positive effect. Further, the impact of oil price changes and their uncertainty are different across different quantiles. Furthermore, there is evidence about the asymmetric effect of the oil price changes on economic growth. Finally, accounting for institutional quality led to a reduction in the impact of oil price changes on economic growth.

The study concludes more detailed results on the impact of oil prices on gross domestic product growth. Thus, it can be used as a decision-support tool for policymakers.

Purpose of this research is to shed light on the changes caused by shipping sulphur regulation, which will globally take off during years 2015 and 2020. It has significant effects on diesel markets globally, but especially in regions, where demanding 0.1 per cent level is required. One of these regions is the Baltic Sea. It is relatively undealt issue, how this forthcoming change will affect these specific sub-regions of stiff 0.1 per cent sulphur level demand and their transportation modes with different tax obligations.

The authors use second-hand data from various different sources, earlier research as well as simulation to estimate the effects on the diesel markets and transportation prices in the Baltic Sea region. Different transportation modes have diverging taxation treatment on diesel oil use, which complicates analysis further.

Based on research findings, it is rather probable that diesel markets for sulphur-free diesel oil shall face price spike in the beginning of 2015 in the Baltic Sea region. This is mostly explained with needed large-scale scrubber investment and short-time span to complete these (there are both technical and financial challenges). Therefore, numerous ships shall enter sulphur-free diesel oil market. Based on the simulation study, freight transportation will mostly be hurt in shipping, whereas road and rail shall face smaller price increases. Results are mostly explained with taxation treatment, where shipping is still using tax-free diesel oil, and no fixed taxes are hedging this transportation mode from sudden price changes.

Analysis concerns only Baltic Sea region, and effects and changes in the entire Europe from sulphur regulation change in 2015 are unknown. This would mean to extent study to North Sea. In addition, taxation system harmonization is not yet complete in Europe, and differences exist between member states. Research work was completed with diesel oil tax treatment regarding different transportation modes in Finland.

Based on this study, short sea shipping will be hurt by regulation change in 2015. However, in the future, this transportation mode shall face additional cost increases, as most probably, tax harmonization in diesel markets shall lead to fixed taxes added on shipping diesel. So, transportation mode shall face difficult and challenging times ahead.

Research is seminal study from possible sulphur regulation change implications in transportation mode level. It takes into account taxation treatment, cost share of diesel in transportation mode level and possible diesel price change. Until today, no other study exists in this detailed level.

The experience of rising trade imbalance between Nigeria and its key trading partners in recent years motivated this study. Previous studies on this issue either ignored bilateral level or assumed that the effect of crude oil price and/or exchange rate changes on trade balance is symmetric. Consequently, this study investigates whether Nigeria's bilateral trade balance with Belgium, China, United Kingdom (UK) and USA is responding symmetrically or asymmetrically to changes in oil price and exchange rate.

The authors used nonlinear autoregressive-distributed lag (NARDL) model that decomposed oil price and exchange rate into partial sum processes of positive and negative changes over the period 1999Q1–2019Q4.

The study finds that the effects of oil price hike and plunge asymmetrically influence Nigeria's trade balance with the UK and USA. Further evidence indicated that oil price plunge exerts greater influence than price hike in all the cases, except the UK in the long run. Furthermore, Nigeria's trade balance responds asymmetrically and significantly to changes in exchange rate with China in the long run and with China and the UK in the short run. Specifically, the depreciation effect is more prominent than appreciation.

Significant contributions to the existing literature in Nigeria include the recognition that the effects of oil price and exchange rate changes on trade are asymmetric and the disaggregation of trade into bilateral level to identify country-specific effect.

High inflation levels remain a challenge in macroeconomic stabilization policies among developing economies. Oil price is identified as an important driver of inflation. In the wake of high and unstable international oil prices, the question regarding the relationship between inflation and crude oil prices, and its implication for economic welfare has become a fundamental empirical issue.

This question is explored by estimating a non-linear autoregressive distribution lags (NARDL) model of inflation-oil nexus that examined the asymmetric response of inflation to oil price changes. The study then derived the welfare implication of the asymmetric responses, with implications for the petroleum pricing regime in Ghana.

The study found that inflation responds asymmetrically to oil prices in the long-run but not in the short-run. The welfare cost associated with the asymmetric response increases with increasing rate.

The findings of this study have some implications for petroleum product pricing in Ghana. Recently, Ghana has moved from regulating petroleum prices to the automatic adjustment system. By this policy, petroleum prices change in tandem with the crude oil prices and exchange rates on the international market. Whiles this policy might be comparatively efficient, the evidence of asymmetric response of inflation to changes in oil prices raises some issues about the welfare effect of the policy.

The paper contributes to the literature on the inflation-oil price nexus by investigating critical questions that remain puzzling. These questions include; Does inflation respond asymmetrically to the positive and negative shock of equal magnitude in oil prices? Does inflation response to the asymmetry changes in oil prices have any implications for the welfare of the country? Is the effect of oil price changes pernicious?