Arouri, Mohamed El Hedi; Rault, Christophe - 2009
to investigate the existence of a long-run relationship between oil prices and Gulf Corporation Countries (GCC) stock … October 2008, and from January 1996 to December 2007, our investigation shows that there is evidence for cointegration of oil … prices and stock markets in GCC countries, while the SUR results indicate that oil price increases have a positive impact on …