波动性(金融)
经济
股票市场
计量经济学
地缘政治学
金融经济学
库存(枪支)
新兴市场
货币经济学
宏观经济学
地理
政治学
政治
考古
法学
背景(考古学)
作者
Yaojie Zhang,Jiaxin He,Mengxi He,Shaofang Li
标识
DOI:10.1016/j.frl.2022.103620
摘要
This paper investigates the relationship between geopolitical risk (GPR) and stock market volatility from a global perspective. We use dynamic panel data including 32 countries and regions and the bias-corrected least-squares dummy variable (LSDV) estimator. Empirical results show that GPR has a significant positive effect on stock market volatility, which is not affected by control variables. Moreover, we find that the effect of GPR on stock market volatility is more significant for emerging economies, crude oil exporters, and countries at peace. Our study provides new evidence for the relationship between GPR and stock market volatility.
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