...Muzammil Khurshid; Berna Kirkulak-Uludag Purpose This study aims to examine the volatility spillover effects between oil and stock returns in the emerging seven economies. Design/methodology/approach In this study, the Granger causality test and vector autoregression-generalized autoregressive...

.... Furthermore, the stability test, cointegration test and Granger causality test of the model were carried out. Findings The results indicate that, in both short and long term, change in oil prices is the reason for change in carbon emissions, while GDP is not the reason for the growth of carbon emissions...