• economic activity
• exchange market
• impulse response
• oil price
• oil production
• stock prices
• TED spread

There are several factors that drive oil prices. For example, speculations, supply, demand, reserves, inventory, exchange market, stock market are fundamental indicators that affect it. Although various works are already considered the related relationship between oil prices and stock prices, and separate literature on the relationship between oil prices and exchange rates, however, not been that closely studied, especially within the context of emerging market stock prices. The central goal of this paper is to analyze the period after financial crises by using a structural vector autoregression (SVAR) model to bring these two works of literature together and to see how the indicators reacted after 2008. The model based on the paper which analyses the same indicators for the 1988-2008 years.