تاثیر شوک قیمت نفت بر نقدینگی بازار سهام چین

In this paper we investigate whether and how different oil price shocks affect the stock market liquidity in China. Our empirical results show that stock market liquidity only increases when the positive oil price shocks come from oil-specific demand side. When the oil price shocks are from oil supply side or the aggregate demand side, stock market liquidity negatively comoves with oil price.