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| Faruk Balli, Md Iftekhar Hassan Chowdhury and Mabruk Billiah |
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| ''An examination of the oil market at the outset of the Russia-Ukraine conflict'' |
| ( 2025, Vol. 45 No.1 ) |
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| The study explores the drift in the connectedness of 28 global energy markets during the Russian-Ukraine war that instigated one of the largest energy disruptions in history. We reveal a significant positive relationship between the energy dependency on Russia and the change in the return shock transmission. Though some developed markets with diversified energy sources signpost resistance post-invasion, most neighboring countries with higher energy dependency are exposed to amplified connectivity and vulnerability to shock transmission.
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| Keywords: Russia-Ukraine war, Energy markets, Time-varying model, Connectedness index |
JEL: G1 - General Financial Markets
F4 - Macroeconomic Aspects of International Trade and Finance: General |
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| Manuscript Received : Aug 12 2024 | | Manuscript Accepted : Mar 30 2025 |
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