1. – Associate Professor, Head (mba Department), Apex Group Of Institutes, Bilaspur, Uttar Pradesh, India
2. – Associate Professor, Head (mba Department), Apex Group Of Institutes, Bilaspur, Uttar Pradesh, India
| Received
07-Mar-2020 |
Accepted
- |
Published
07-Mar-2020 |
Most of the Asian countries are fulfilling their demand for crude oil by importing it on average of Dubai and Oman. It becomes interesting to investigate the macroeconomic variables showing the relationship and also to investigate the effect of these variables on average of Dubai and Oman. The present study examines such a relationship and effect of one macroeconomic variable on others. Study is based on secondary data collected from eia.gov (Energy Information Administration an Official Energy Statistics from the U.S. Government), gold.org (Official website of The World Gold Council which is the market development organisation for the gold industry), and fxtop.com (a website where we can convert one currency with other) for the study period of 11 years from April 2005 to March 2016. Total five variables have been considered in the study, namely, Dubai-Oman Average price of crude oil, WTI, Brent, Rupee-Dollar Exchange Rate, and Gold Price. The study has found a bi-directional causality between Dubai and Oman average crude oil price and Brent as well as gold price and exchange rate. Some other causal relationships have also been confirmed.