Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/39598 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
ZEI Working Paper No. B 20-2002
Verlag: 
Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI), Bonn
Zusammenfassung: 
This paper analyzes the impact of news, oil prices, and international financial market developments on daily returns on Russian bond and stock markets. First, there is some persistence in both bond and stock market returns. Second, we find that U.S. stock market returns Granger-cause Russian financial markets. Third, growth in oil prices has a positive effect on Russian stock market returns. Fourth, there is a significant economic and statistical influence of a specific type of news on the Russian bond market: Positive (negative) news related to the energy sector raise (lower) daily returns by one percentage point. News from the war in Chechnya, on the other hand, do not appear to have a significant influence on financial markets.
Schlagwörter: 
financial market behavior
financial market integration
stock market returns
bonds market returns
news
emerging markets
transition economies
JEL: 
C5
G12
G15
F36
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
253.98 kB





Publikationen in EconStor sind urheberrechtlich geschützt.