Next Article in Journal
Evaluation of Market with Accommodation Facilities Considering Risk Influence—Case Study Slovakia
Next Article in Special Issue
Investigating the Causal Linkages among Inflation, Interest Rate, and Economic Growth in Pakistan under the Influence of COVID-19 Pandemic: A Wavelet Transformation Approach
Previous Article in Journal
The Effect of Industry Restructuring on Peer Firms
Previous Article in Special Issue
Gold against Asian Stock Markets during the COVID-19 Outbreak
Article

Effects of the 2008 Financial Crisis and COVID-19 Pandemic on the Dynamic Relationship between the Chinese and International Fossil Fuel Markets

Graduate School of Humanities and Social Sciences, Saitama University, 255 Shimo-Okubo, Sakura-ku, Saitama 338-8570, Japan
*
Author to whom correspondence should be addressed.
Academic Editor: Michael McAleer
J. Risk Financial Manag. 2021, 14(5), 207; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14050207
Received: 7 April 2021 / Revised: 29 April 2021 / Accepted: 3 May 2021 / Published: 5 May 2021
(This article belongs to the Special Issue The Impact of COVID-19 on Economy, Energy, and Environment)
This study examines whether the dynamic relationship between the Chinese and international fossil markets changed during the 2008 financial crisis and is changing during the COVID-19 pandemic. The impact of the crises are analyzed by including the periods affected by the crises as dummy variables in the VAR and VECM models. Monthly data for the 2000:1–2020:12 period were used in the study. Our results suggest that the effects of the COVID-19 on the linkages between the Chinese and international fossil fuel markets are not as evident compared to the 2008 financial crisis. The study identifies that the effects of the 2008 financial crisis and the COVID-19 pandemic on the linkages are mostly driven by the impacts of these crises on the Chinese fossil fuel markets. The study indicates the importance of controlling the risk involved in the Chinese fossil fuel market when events like the 2008 financial crisis and the COVID-19 pandemic are changing the linkages between the Chinese and international fossil fuel markets. View Full-Text
Keywords: Chinese fossil fuel; COVID-19 pandemic; 2008 financial crisis; natural gas Chinese fossil fuel; COVID-19 pandemic; 2008 financial crisis; natural gas
Show Figures

Figure 1

MDPI and ACS Style

Tang, C.; Aruga, K. Effects of the 2008 Financial Crisis and COVID-19 Pandemic on the Dynamic Relationship between the Chinese and International Fossil Fuel Markets. J. Risk Financial Manag. 2021, 14, 207. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14050207

AMA Style

Tang C, Aruga K. Effects of the 2008 Financial Crisis and COVID-19 Pandemic on the Dynamic Relationship between the Chinese and International Fossil Fuel Markets. Journal of Risk and Financial Management. 2021; 14(5):207. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14050207

Chicago/Turabian Style

Tang, Chaofeng, and Kentaka Aruga. 2021. "Effects of the 2008 Financial Crisis and COVID-19 Pandemic on the Dynamic Relationship between the Chinese and International Fossil Fuel Markets" Journal of Risk and Financial Management 14, no. 5: 207. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14050207

Find Other Styles
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop