@article{jfe20251314,
author={Herv¨¦, DRAMA B¨¦di Guy},
title={Impact of COVID-19 Pandemic and Oil Price Shock on BRVM-C Stock Market},
journal={Journal of Finance and Economics},
volume={13},
number={1},
pages={41--56},
year={2025},
url={https://pubs.sciepub.com/jfe/13/1/4},
issn={2328-7276},
abstract={This paper examines the relationship between oil prices, exchange rates, and BRVM-C stock prices within the context of the COVID-19 pandemic. We identified a cointegration relationship among the variables, allowing us to estimate the long-run elasticities. Our findings indicate a statistically significant positive effect of oil prices on stock prices prior to the onset of the pandemic. However, during the COVID-19 period, this relationship lost significance, while a positive and significant effect was observed in the post-COVID resilience period. In terms of exchange rates, we found a statistically significant negative effect on stock prices before the pandemic. This relationship shifted to a positive and significant effect during the spread of the virus, followed by a return to a negative and significant effect in the resilience period. Additionally, our short-run elasticity estimates reveal that oil prices had a negative and significant impact on stock returns before the pandemic, a negligible effect during the pandemic, and a non-significant effect thereafter. Conversely, exchange rates exhibited a positive but non-significant effect before and during the pandemic, transitioning to a negative and significant effect only in the period following the pandemic.},
doi={10.12691/jfe-13-1-4}
publisher={Science and Education Publishing}
}