Nexus between oil price and stock market development in Southeast Asian economy: Evidence from linear and nonlinear assessment

The literature has extensively investigated stock market development and its critical role. Another variety of studies focuses on determining the factors responsible for development. motivation study is to investigate impact oil price movement in Southeast Asian economy period 1990-2020.study applied several economical tools such as second-generation panel unit root test widely known CADF CIPS, cointegration with error correction term, ARDL nonlinear ARDL. Study findings have revealed that prices are negatively associated both long-run short-run. assessment established a asymmetric association between Refers elasticity, documented negative statistically significant linkage shocks measures