Bulletin of Monetary Economics and Banking

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This study examines the impact of oil prices and geopolitical risks (GPR) on sectoral stock returns in Australia, Japan, USA, and India. Using data from September 13, 2017 to May 30, 2023 and Westerlund and Narayan's method, the study finds oil prices positively affect pharma and commodity stocks, while GPR benefits commodity stocks, excluding banking in Australia. Further, GPR negatively impacts only banking stocks due to increased uncertainty and risk aversion in USA. Similarly, GPR adversely affects banking stocks in India that leads capital outflows and economic instability, while oil prices positively influence pharma and commodity stocks. Policymakers are advised to stabilize the banking sectors to mitigate the impact of GPR, and investors need to take GPR into account while making investment decisions in banking sector.

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Creative Commons License

Creative Commons Attribution-NonCommercial 4.0 International License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License




Goa Institute of Management

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