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they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regul …
Persistent link: https://www.econbiz.de/10009618521
Persistent link: https://www.econbiz.de/10014275662
Intro -- Contents -- I. THE EMERGENCE OF ASIAN STOCK MARKETS -- II. PERFORMANCE OF ASIAN EMERGING STOCK MARKETS -- III. ARE ASIAN MARKETS OVERHEATING? -- IV. EQUITY PRICES AND ECONOMIC ACTIVITY -- V. POLICY IMPLICATIONS -- APPENDIX I: THE DEVELOPMENT OF EQUITY DERIVATIVES MARKETS IN ASIA --...
Persistent link: https://www.econbiz.de/10012690965
Emerging European countries have made large strides in developing their local capital markets since the early-1990s. However, the rate of development has been widely disparate across countries and market segments, underpinned by the varying degrees of progress made in key areas such as...
Persistent link: https://www.econbiz.de/10014409027
Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...
Persistent link: https://www.econbiz.de/10015059379
This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility … markets are found to a¤ect both conditional returns and volatility, with the e¤ects on volatility being more pronounced and …
Persistent link: https://www.econbiz.de/10012677485
In distilling a vast literature spanning the rational- irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated...
Persistent link: https://www.econbiz.de/10012686794
growth and asset price volatility indicators to capture mispricing of risk in asset markets. Using a quarterly panel of 108 … volatility is a good predictor of future financial crises. Elevated levels of our indicator significantly increase the …
Persistent link: https://www.econbiz.de/10015059236
This paper uses institutional features of the EU Emissions Trading System (ETS) and highfrequency data on more than 2,000 publicly listed European firms over 2011-21 to study the impact of carbon policy on stock returns. After extracting the surprise component of regulatory actions, we show that...
Persistent link: https://www.econbiz.de/10015059755
We present empirical evidence that the Thai baht's value is driven in part by investors' cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005 and 2006....
Persistent link: https://www.econbiz.de/10009621634