Effects of crude oil prices on copper and maize prices

Abstract This study explains the effects of crude oil prices on copper and maize prices. Vector autoregressive and vector error correction models are used to study the relationship between oil prices and prices of copper and maize. The commodity price data used consist of average monthly prices of e...

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Autor principal:	Byrne Kaulu
Formato:	article
Lenguaje:	EN
Publicado:	SpringerOpen 2021
Materias:	Cointegration Granger causality VAR VECM Copper price Crude oil price Business HF5001-6182 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/d2a0176c574f4895b5adc9cd27b3dd86
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spelling	oai:doaj.org-article:d2a0176c574f4895b5adc9cd27b3dd862021-11-14T12:10:55ZEffects of crude oil prices on copper and maize prices10.1186/s43093-021-00100-w2314-7210https://doaj.org/article/d2a0176c574f4895b5adc9cd27b3dd862021-11-01T00:00:00Zhttps://doi.org/10.1186/s43093-021-00100-whttps://doaj.org/toc/2314-7210Abstract This study explains the effects of crude oil prices on copper and maize prices. Vector autoregressive and vector error correction models are used to study the relationship between oil prices and prices of copper and maize. The commodity price data used consist of average monthly prices of each of the commodities: crude oil, copper and maize for the months January 1982 to June 2021. For robustness, the analysis was also run on a sample of the same data for the period January 2000 to June 2021. A long-run relationship was found between crude oil and copper prices on the one hand and maize prices on the other for the 1982 to 2021 period at the 5% significance level. The same was not true for the shorter sample (2000 to 2021). Granger causality flowing from crude oil prices alone to copper and maize prices was not found. Recommendations that are useful for energy, mining, agriculture and general development policy and practice are made. The findings are also useful for bilateral and multilateral aid discussions. The limitations of the study and recommendations for future scholarship are also made.Byrne KauluSpringerOpenarticleCointegrationGranger causalityVARVECMCopper priceCrude oil priceBusinessHF5001-6182FinanceHG1-9999ENFuture Business Journal, Vol 7, Iss 1, Pp 1-15 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Cointegration Granger causality VAR VECM Copper price Crude oil price Business HF5001-6182 Finance HG1-9999
spellingShingle	Cointegration Granger causality VAR VECM Copper price Crude oil price Business HF5001-6182 Finance HG1-9999 Byrne Kaulu Effects of crude oil prices on copper and maize prices
description	Abstract This study explains the effects of crude oil prices on copper and maize prices. Vector autoregressive and vector error correction models are used to study the relationship between oil prices and prices of copper and maize. The commodity price data used consist of average monthly prices of each of the commodities: crude oil, copper and maize for the months January 1982 to June 2021. For robustness, the analysis was also run on a sample of the same data for the period January 2000 to June 2021. A long-run relationship was found between crude oil and copper prices on the one hand and maize prices on the other for the 1982 to 2021 period at the 5% significance level. The same was not true for the shorter sample (2000 to 2021). Granger causality flowing from crude oil prices alone to copper and maize prices was not found. Recommendations that are useful for energy, mining, agriculture and general development policy and practice are made. The findings are also useful for bilateral and multilateral aid discussions. The limitations of the study and recommendations for future scholarship are also made.
format	article
author	Byrne Kaulu
author_facet	Byrne Kaulu
author_sort	Byrne Kaulu
title	Effects of crude oil prices on copper and maize prices
title_short	Effects of crude oil prices on copper and maize prices
title_full	Effects of crude oil prices on copper and maize prices
title_fullStr	Effects of crude oil prices on copper and maize prices
title_full_unstemmed	Effects of crude oil prices on copper and maize prices
title_sort	effects of crude oil prices on copper and maize prices
publisher	SpringerOpen
publishDate	2021
url	https://doaj.org/article/d2a0176c574f4895b5adc9cd27b3dd86
work_keys_str_mv	AT byrnekaulu effectsofcrudeoilpricesoncopperandmaizeprices
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Effects of crude oil prices on copper and maize prices

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