Commodity market stability and sustainable development: The effect of public health policies

Shusheng Ding, Anqi Wang, Tianxiang Cui, Anna Min Du, Xinmiao Zhou

Research output: Journal PublicationArticlepeer-review


This study explores the influence of public health policies on commodity market volatility during public health emergencies, such as pandemics, using data from China and the US. We investigate how stringent public health measures can mitigate the effects of pandemics on the stability of commodity markets by stabilizing domestic demand and supply of natural resources. Our findings highlight the interconnectedness between commodity market stability and oil production, showing that firms increase their oil inventories in response to oil market volatility as a precautionary measure. This action, in turn, affects the amount of oil available for production, impacting oil consumption and extraction rates. We demonstrate that stability in the oil market significantly influences not only oil consumption but also has broader implications for sustainable development, green asset markets, and carbon emissions.

Original languageEnglish
Article number102386
JournalResearch in International Business and Finance
Publication statusPublished - Jun 2024


  • Commodity market stability
  • Commodity price volatility
  • Impulse response function
  • Public health policy

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Finance


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