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Abstract The aim of this paper is to examine the linkages between stock market index, Dubai Fateh oil spot price, interest rate and FDI using monthly data on Abu Dhabi stock index for the period 2006- 2019. Vector Autoregressive Model have been employed to analyse the relationship between the variables. Using monthly data from 2006 to 2019, the results of Vector Error Correction Model (VECM) estimates suggest that there is long-run integration between oil price and monthly stock index series in which monthly oil prices have a positive impact on stock index. The Granger Causality indicates significant bidirectional causality running from ADX index, oil price and EIBOR. Meanwhile there is unidirectional causality from stock market index to FDI. Furthermore, Impulse Response Function was employed to examine market response to oil price shocks and our study reveals that UAE stock market is efficient as it responds immediately to the oil shock. These findings are relevant for investors for portfolio management and for the policymakers such that more aggressive economic diversification policies are initiated to wane the significant persistent oil-stock integration. Downloads Download data is not yet available. Downloads FULL TEXT Published 2023-01-22 How to Cite Banerjee, R., Majumdar, S., & Mohammed, Z. (2023). Oil Price Changes and Stock Market Performance in UAE: Evidence of Cointegration Persists in Economic Diversification era. International Journal of Energy Economics and Policy, 13(1), 552–561. https://doi.org/10.32479/ijeep.13862 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 13 No. 1 (2023) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Make a Submission Make a Submission Dergi Kapağı

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