ABSTRACT
Purpose: This study aims to examine the dynamic bidirectional causality between oil price (OIL) and stock market indexes in net oil-exporting (Russia) and net oil-importing (China) countries. Design/methodology/approach: The authors use monthly data for the period starting from October 1995 to October 2021. In this study, the bootstrap rolling-window Granger causality approach introduced by Balcilar et al. (2010) and the probit regression model are performed in order to identify the bidirectional causality. Findings: The results show that the causal periods mainly occur during economic, financial and health crises. For oil-exporting country, the results suggest that any increase (decrease) in the OIL leads to an appreciation (depreciation) in the stock market index. The effect of the stock market on OIL is more relevant for the oil-importing country than that for the oil-exporting one. The COVID-19 consequences are demonstrated in the impact of oil on the Russian stock market. The probit regression shows that the US financial instabilities increase the probability of causality between OIL and stock market indexes in Russia and China. Practical implications: The dynamic relationship between the variables must be taken into account in investment decisions. As financial instabilities in the USA drive the relationship between oil and stocks, investors should consider geopolitical, economic and financial elements when constructing their portfolios. Shareholders are required to include other assets in their portfolios since oil–stock relationship is highly risky. Originality/value: This study provides further evidence of the bidirectional oil–stock causal link. Additionally, it examines the impact of financial instabilities on the probability that the OIL and the stock market index cause each other through the Granger effect. © 2023, Emerald Publishing Limited.
ABSTRACT
The impact of COVID-19 has been enormous, and the situation has been unprecedented. Consequently, most countries around the world impose mobility restrictions on their citizens. Society changes impact the demand for transportation, reducing the number of trips and altering modes of transportation, as well as affecting the price of living. Inequalities between various groups of the Soussian community have been further aggravated by the current health crisis. This is particularly relevant since there is already a gap between genders, and women are the most affected. In this paper, we attempt to identify the hierarchy of the travel patterns of females in the various delegations of the Grand Sousse, analyzing mobility behavior of women. Based on results from two household/travel surveys conducted before and during COVID (in 2019 and 2020), a descriptive analysis was conducted according to four categories: general mobility characteristics, travel rate, mobility characteristics (modal split and reasons for travel) and the trinomial;distance, time, and cost. The results of our analysis are consistent with similar analysis done by other researchers, with significant differences between genders, indicating that women are at greater risk of mobilizing in the 'Grand Sousse'. A large percentage of individuals impacted by this epidemic is females. By applying a detailed spatial reading of mobility characteristics, it was possible to clarify these differences under a significant variation in the daily mobility characteristics of women in favor of the best-equipped delegations. © 2022 IEEE.