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Brent Crude Oil Prices Volatility During Major Crises, Miroslava Zavadska, Lucia Morales, Joseph Coughlan
Brent Crude Oil Prices Volatility During Major Crises, Miroslava Zavadska, Lucia Morales, Joseph Coughlan
Articles
Volatility patterns in Brent crude oil spot and futures prices are examined during four major crises that significantly affected the oil markets: the First Gulf war 1990/91; the Asian Financial crisis 1997/98; the US terrorist attack 2001; and the Global Financial crisis 2008/9. The selected crises arose due to different triggers having diverse implications for oil market participants. The outcomes reveal higher levels of volatility during crises that was directly associated with oil supply/demand disruptions and higher volatility persistence during financial/economic crises, indicating that volatility persistence is a key issue when uncertainty is derived from global economic and financial instability.
Lessons From The Global Financial Crisis–The Case Of Mainland China And Hong Kong, Lucia Morales, Bernadette Andreosso-O’Callaghan
Lessons From The Global Financial Crisis–The Case Of Mainland China And Hong Kong, Lucia Morales, Bernadette Andreosso-O’Callaghan
Articles
The analysis of the intertwined reactions of Hong Kong and Mainland China to the 2008 Global Financial Crisis is considered in this study through the lenses of their stock markets. The GARCH-based analysis of stock market performance over the period December 2011–December 2014 shows that trade and equity sectors were the sectors most affected by the global recession; volatility was prevalent on the Shanghai stock market, whereas volatility persistence characterised the Hong Kong stock market. The results also show that the two stock markets recovered quite quickly. Tight controls applied by the financial authorities helped ensure some stability during the …
Hong Kong Unrest And Implications For The Hang Seng Index, Lucia Morales, Bernadette Andreosso-O’Callaghan
Hong Kong Unrest And Implications For The Hang Seng Index, Lucia Morales, Bernadette Andreosso-O’Callaghan
Articles
With the September 2014 ‘Umbrella Revolution’ in Hong Kong, China faced one of the biggest political challenges since the Tiananmen Square events. Beijing’s proposed electoral reform was perceived as a direct attack to democracy, and the ensuing protest triggered concerns amid local and international investors; the financial sector took the hardest hit, with stocks of companies exposed to the Hong Kong market facing significant losses. Volatility continued to increase to a seven-month high over worries that the student blockade in Hong Kong’s streets could drag on for longer than expected. The econometric-based analysis in this paper looks at the implications …