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November 16, 2025Journal of Asian Business and Economic StudiesOpen Access

Oil subsidy removal and spillovers between crude oil and stock markets: empirical study from GCC countries

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Authors

AAAbdullah AlGhazaliWMWalid MensiHBHoussem Eddine Belghouthi

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Overview

Empirical analysis reveals shifts in investment behaviors in GCC markets post-subsidy removal, indicating effects on financial stability.

Key Points

  • Post-subsidy removal, GCC equity markets displayed significant shifts in return dynamics affecting investment decisions.
  • Key metrics include changes in the relationships between Brent crude oil and stock prices, especially in UAE and Saudi Arabia.
  • Utilizing a time-varying parameter vector autoregression model, we assess spillovers between oil and equity markets across GCC.
  • Findings emphasize the necessity for reallocating sovereign wealth towards low-carbon assets for sustainable development.

Cite This Study

AlGhazali et al. (2025) studied this question.

synapsesocial.com/papers/692509ffc0ce034ddc3531c4https://doi.org/10.1108/jabes-03-2025-0105
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