The study's objective was to investigate how changes in oil prices affect stock market performance. The study's population consisted of selected African countries chosen based on factors like the size of their stock markets and whether or not they import or export oil. The world development indicator (WDI) and the OPEC bulletin or website served as sources for the data. The vector error correction model was used to analyse the collected data. Regarding the impact of oil price fluctuations on the performance of the stock market, the findings of the study were mixed. Oil price fluctuations have a positive impact on stock market performance for countries that import oil. For oil-trading countries, the impacts were found to differ across examined countries. Oil price fluctuations had a mixed effect on both large and small stock markets. This demonstrates how crucial it is to investigate changes in the price of oil and how they might impact stock market performance, particularly in African countries.

中文翻译：

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石油价格冲击对部分非洲国家股市表现的影响


该研究的目的是调查油价变化如何影响股市表现。该研究的人口由选定的非洲国家组成，这些国家是根据股票市场规模以及是否进口或出口石油等因素选择的。世界发展指标（WDI）和欧佩克公告或网站作为数据来源。矢量误差校正模型用于分析收集的数据。关于油价波动对股市表现的影响，研究结果好坏参半。石油价格波动对石油进口国的股市表现产生积极影响。对于石油贸易国来说，不同受调查国家的影响有所不同。石油价格波动对大型和小型股票市场产生了复杂的影响。这表明调查石油价格的变化及其如何影响股市表现是多么重要，特别是在非洲国家。