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Can Major Public Health Emergencies Affect Changes in International Oil Prices?

In order to deepen the understanding of the impact of major public health emergencies on the oil market and to enhance the risk response capability, this study analyzed the logical relationship between major public health emergencies and international oil price changes, identified the change points,...

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Detalles Bibliográficos
Autores principales: Cheng, An, Chen, Tonghui, Jiang, Guogang, Han, Xinru
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8701035/
https://www.ncbi.nlm.nih.gov/pubmed/34948563
http://dx.doi.org/10.3390/ijerph182412955
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author Cheng, An
Chen, Tonghui
Jiang, Guogang
Han, Xinru
author_facet Cheng, An
Chen, Tonghui
Jiang, Guogang
Han, Xinru
author_sort Cheng, An
collection PubMed
description In order to deepen the understanding of the impact of major public health emergencies on the oil market and to enhance the risk response capability, this study analyzed the logical relationship between major public health emergencies and international oil price changes, identified the change points, and calculated the probability of abrupt changes to international oil prices. Based on monthly data during six major public health emergencies from 2009 to 2020, this study built a product partition model. The results show that only the influenza A (H1N1) and COVID-19 pandemics were significant reasons for abrupt changes in international oil prices. Furthermore, the wild poliovirus epidemic, the Ebola epidemic, the Zika epidemic, and the Ebola epidemic in the Democratic Republic of the Congo had limited effects. Overall, the outbreak of a Public Health Emergency of International Concern (PHEIC) in major global economies has a more pronounced impact on international oil prices.
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spelling pubmed-87010352021-12-24 Can Major Public Health Emergencies Affect Changes in International Oil Prices? Cheng, An Chen, Tonghui Jiang, Guogang Han, Xinru Int J Environ Res Public Health Article In order to deepen the understanding of the impact of major public health emergencies on the oil market and to enhance the risk response capability, this study analyzed the logical relationship between major public health emergencies and international oil price changes, identified the change points, and calculated the probability of abrupt changes to international oil prices. Based on monthly data during six major public health emergencies from 2009 to 2020, this study built a product partition model. The results show that only the influenza A (H1N1) and COVID-19 pandemics were significant reasons for abrupt changes in international oil prices. Furthermore, the wild poliovirus epidemic, the Ebola epidemic, the Zika epidemic, and the Ebola epidemic in the Democratic Republic of the Congo had limited effects. Overall, the outbreak of a Public Health Emergency of International Concern (PHEIC) in major global economies has a more pronounced impact on international oil prices. MDPI 2021-12-08 /pmc/articles/PMC8701035/ /pubmed/34948563 http://dx.doi.org/10.3390/ijerph182412955 Text en © 2021 by the authors. https://creativecommons.org/licenses/by/4.0/Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Cheng, An
Chen, Tonghui
Jiang, Guogang
Han, Xinru
Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title_full Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title_fullStr Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title_full_unstemmed Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title_short Can Major Public Health Emergencies Affect Changes in International Oil Prices?
title_sort can major public health emergencies affect changes in international oil prices?
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8701035/
https://www.ncbi.nlm.nih.gov/pubmed/34948563
http://dx.doi.org/10.3390/ijerph182412955
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