M.A. Thesis:

The impact of oil price shocks on the main indicators of the stock market in the country exporter and importer of crude oil into the data approach

This study examines the impact of oil prices on major market indicators in selected developing and developed countries. Since oil is one of the most important sources of energy in the world, it can generate income for developing countries as an oil exporter, and on the other hand, it serves as a source of energy for oil importing countries in the world, hence the price change of oil can affect the macroeconomic variables of both groups of countries. In this research, the effect of the price of crude oil imported into developed countries or exported from selected developing countries has been studied on the main stock market indices in these countries. Hence, six selected oil exporting countries and six developed oil importer countries were surveyed during the period 2000-2015. The method used to analyze the research information was the panel data method and STATA 13 software was used to analyze the information. The results of the research showed that oil prices have had different effects on the main stock indexes in the two groups of developing and developing developing countries. Therefore, based on the results of the research, it has been suggested that preventing the impact of negative oil prices on the main stock market indices in developing countries of the oil industry should be prevented.

Keywords: Oil Prices, Stock Index, Government Expenditures, Gross Domestic Product