Global Financial Crisis and International Stock Market Co-Movements
Global Financial Crisis and International Stock Market Co-Movements

Author: Kirti Khanna

Publisher:

Published: 2014

Total Pages: 8

ISBN-13:

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The global financial crisis, after brewing for a while, actually started to demonstrate its consequences and encroachments in the middle of 2007 and into 2008. During this period the world stock markets have fallen, large financial institutions have been collapsed. From 2008 to 2010 it reflected as a big problem due to the U.S. Subprime credit crisis which has been began with massive defaults by Subprime borrowers in mortgage markets. This paper has analyzed the behavior or the movements of the stock markets during the crisis; both at overall market and Sectoral level (Financials, FMCG, Telecomm, Healthcare, IT, Oil gas/ energy) for the period of 2008-11. For this purpose, the study has considered mainly three stock markets; Bombay Stock Exchange (BSE-India), New York Stock Exchange (NYSE-USA) and London Stock Exchange (LSE-UK). The study is based on the daily market returns of the selected stock markets' benchmarks viz; BSE-Sensex for India, DJIA for USA and FTSE 100 for UK. After the statistical analysis, the results of the study suggested that the all three selected countries have been affected by that crisis on somewhat level on the basis of both at market and Sector wise level.

Global Financial Crisis
Global Financial Crisis

Author: Paolo Savona

Publisher: Routledge

Published: 2016-04-22

Total Pages: 349

ISBN-13: 1317127811

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Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.

Global Stock Market Integration
Global Stock Market Integration

Author: Sabur Mollah

Publisher: Springer

Published: 2016-02-10

Total Pages: 172

ISBN-13: 1137367547

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Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.

The Impact of the Global Financial Crisis on Emerging Financial Markets
The Impact of the Global Financial Crisis on Emerging Financial Markets

Author: Jonathan Batten

Publisher: Emerald Group Publishing

Published: 2011-03-02

Total Pages: 745

ISBN-13: 0857247549

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The Global Financial Crisis of 2007-2009 has highlighted the resilience of the financial markets and economies from the developing world. This title investigates and assesses the impact and response to the crisis from an emerging markets perspective including asset pricing, contagion, financial intermediation, market structure and regulation.

The Global Financial Crisis
The Global Financial Crisis

Author: Mark Taylor

Publisher: Routledge

Published: 2014-01-02

Total Pages: 195

ISBN-13: 131798336X

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The global financial crisis has sent shockwaves through the world’s economies, and its effects have been deep and wide-reaching. This book brings together a range of applied studies, covering a range of international and regional experience in the area of finance in the context of the global downturn. The volume includes an exploration of the impact of the crisis on capital markets, and how corporate stakeholders need to be more aware of the decision-making processes followed by corporate executives, as well as an analysis of the policy changes instituted by the Fed and their effects. Other issues covered include research into the approach of solvent banks to toxic assets, the determinants of US interest rate swap spreads during the crisis, a new approach for estimating Value-at-Risk, how distress and lack of active trading can result in systemic panic attacks, and the dynamic interactions between real house prices, consumption expenditure and output. Highlighting the global reach of the crisis, there is also coverage of recent changes in the cross-currency correlation structure, the costs attached to global banking financial integration, the interrelationships among global stock markets, inter-temporal interactions between stock return differential relative to the US and real exchange rate in the two most recent financial crises, and research into the recent slowdown in workers’ remittances. This book was published as a special issue of Applied Financial Economics.

Financial Spillovers to Emerging Markets During the Global Financial Crisis
Financial Spillovers to Emerging Markets During the Global Financial Crisis

Author: Nathaniel Frank

Publisher: International Monetary Fund

Published: 2009-05

Total Pages: 22

ISBN-13:

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In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GARCH model is estimated in order to gauge the extent of co-movements of these financial variables across markets. The findings indicate that the notion of possible de-coupling (in the financial markets) had been misplaced. While EM stock markets reached their peak in the last quarter of 2007, interlinkages between funding stress and equity markets in advanced economies and EM financial indicators were highly correlated and have seen sharp increases during specific crisis moments.

Asia-Pacific Financial Markets
Asia-Pacific Financial Markets

Author: Suk-Joong Kim

Publisher: Elsevier

Published: 2007-12-12

Total Pages: 537

ISBN-13: 0762314710

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This volume of "International Finance Review" focuses on the Asia-Pacific financial markets. A total of 22 original papers, not published elsewhere, have been selected from a competitive field. These papers utilize a variety of methods, including theoretical, empirical and qualitative to highlight a range of issues across the region. Several papers offer combinations of these different categories and among the empirical papers, there are a wide variety of datasets analyzed. While China does play a significant part in the analysis of five of the papers in this volume (this is to be expected given its importance in the region), a host of other countries are also considered. This ensures the volume is truly international in its scope. These papers each serve to contribute to the knowledge on a particular issue related to the financial markets within this region and for this volume, three main issues have been identified: integration, innovation and challenges. Articles are contributed by experts in their fields. It is truly international in scope.

The Global Stock Market
The Global Stock Market

Author: Dariusz Wójcik

Publisher: Oxford University Press

Published: 2011-05-26

Total Pages: 219

ISBN-13: 0199592187

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The book uses rich data and global case studies to examine the rise of emerging markets, the impact of the global financial crisis, the revolution in the stock exchange business model, and the continued dominance of London and New York as stock market centres.

Co-Movements Between Latin American and U.S. Stock Markets
Co-Movements Between Latin American and U.S. Stock Markets

Author: Andres Ramirez Hassan

Publisher:

Published: 2014

Total Pages: 16

ISBN-13:

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Currently, the world is facing a continuous process of integration in di fferent aspects and fi nancial markets are no exception to this development. Despite the fact that global integration is gradual, one can fi nd some specfi c events that might help to accelerate this trend. This paper shows that after the fi nancial crisis of 2008, which mainly occurred in the United States, the Latin American stock markets exhibit a higher level of convergence, measured by the correlation between the annual returns of their stock market indices. Additionally, we find convergence in the coe ficient of sensitivity between Latin American and U.S. stock markets, using dynamic linear models at the regional level. In particular, we uncover consistent movements in the levels of sensitivity between the daily annual returns of the Latin American indices and the S&P index after the fi nancial crisis. This kind of convergence might be a positive sign to accelerate the integration process in Latin America stock markets, which has had a slow development since its beginning a few years ago.