The existing literature has explained the causality flow from the exchange rates toward the stock market without explaining the role of the economic crisis in effecting this nexus. This study examines the role of the financial crisis in affecting the nonlinear causality flowing from the exchange...

Global factors are becoming increasingly important as a cause of international capital flows. It is nearly impossible for some countries to protect themselves from outside influences on their financial markets. This paper investigates the extent to which various global factors such as stock...