Analysis of Co-Movements in Ecowas Financial Markets of Oil Importing and Exporting Countries and the Price of Brent: A Wavelet Approach
- Prao Yao Séraphin
- Anzian Kouamé Marcel
- Djeban Koffi Mouroufie Emmanuel
Abstract
The objective of this paper is to analyze the effects of contagion, interdependence, and changes in the correlation structure, after the COVID-19 crisis, on the financial markets of the ECOWAS oil importing and exporting area and the price of BRENT. To do this, two wavelet approaches in a time-frequency domain (the local correlation wavelet (WLC) and the correlation wavelet (WC)), on daily data from January 04, 2005, to January 06, 2022, of the composite indices of the NSE, the BRVM, the GSE and the price of BRENT, are mobilized. The results mainly reveal the existence of contagion and co-movement on the one hand, and variation in the correlation structure in the post-COVID-19 era on the other. The study thus exhibits evidence of the coexistence of contagion, co-movement, and permanent change in the correlation structure between the ECOWAS financial markets and the price of BRENT before and after the COVID-19 crisis.
- Full Text:
PDF
- DOI:10.5539/ijef.v17n8p24
Journal Metrics
Index
- Academic Journals Database
- ACNP
- ANVUR (Italian National Agency for the Evaluation of Universities and Research Institutes)
- Berkeley Library
- CNKI Scholar
- COPAC
- Copyright Clearance Center
- Directory of Research Journals Indexing
- DTU Library
- EBSCOhost
- EconBiz
- EconPapers
- Elektronische Zeitschriftenbibliothek (EZB)
- EuroPub Database
- Genamics JournalSeek
- GETIT@YALE (Yale University Library)
- Harvard Library
- Harvard Library E-Journals
- IBZ Online
- IDEAS
- JournalTOCs
- LOCKSS
- MIAR
- NewJour
- Norwegian Centre for Research Data (NSD)
- Open J-Gate
- PKP Open Archives Harvester
- Publons
- RePEc
- ROAD
- Scilit
- SHERPA/RoMEO
- SocioRePEc
- Standard Periodical Directory
- Technische Informationsbibliothek (TIB)
- The Keepers Registry
- UCR Library
- Ulrich's
- Universe Digital Library
- UoS Library
- ZBW-German National Library of Economics
- Zeitschriften Daten Bank (ZDB)
Contact
- Michael ZhangEditorial Assistant
- ijef@ccsenet.org