The Socioeconomic Determinants of Correlations Between Stock Market Returns as Revealed by a Gravity Model PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Socioeconomic Determinants of Correlations Between Stock Market Returns as Revealed by a Gravity Model PDF full book. Access full book title The Socioeconomic Determinants of Correlations Between Stock Market Returns as Revealed by a Gravity Model by Danni Yang. Download full books in PDF and EPUB format.
Author: Danni Yang
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Economic variants of Newton's law of universal gravitation have been used to model the flow of trade between two countries as proportional to the attraction created by measures of their economic masses and dampened by their distance from one another. More business will likely take place between big economies that are close to one another. This study uses that same gravity analogy to explore the long-term, or perhaps more accurately, stable determinants of the correlation of stock markets, where in its simplest form, financial mass is represented by the joint market size of two countries and financial distance by the overlap in trading hours of their stock exchanges. Stock market correlations are found to be positively related to these variables and negatively related to joint trading volume. If distance is expanded to include the relative similarity in culture and legal institutions, it is found that correlations are positively related to the disparity in religious pluralism, negatively related to differences in economic freedom, and positively related to the sharing of a common legal system. In all, the gravity models estimated explain almost 11 percent of the cross-sectional variation in the correlations of stock markets, with the incremental influence of the cultural and legal variables being many times greater than that of the financial variables.
Author: Danni Yang
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Economic variants of Newton's law of universal gravitation have been used to model the flow of trade between two countries as proportional to the attraction created by measures of their economic masses and dampened by their distance from one another. More business will likely take place between big economies that are close to one another. This study uses that same gravity analogy to explore the long-term, or perhaps more accurately, stable determinants of the correlation of stock markets, where in its simplest form, financial mass is represented by the joint market size of two countries and financial distance by the overlap in trading hours of their stock exchanges. Stock market correlations are found to be positively related to these variables and negatively related to joint trading volume. If distance is expanded to include the relative similarity in culture and legal institutions, it is found that correlations are positively related to the disparity in religious pluralism, negatively related to differences in economic freedom, and positively related to the sharing of a common legal system. In all, the gravity models estimated explain almost 11 percent of the cross-sectional variation in the correlations of stock markets, with the incremental influence of the cultural and legal variables being many times greater than that of the financial variables.
Author: Paweena Prasatkitjaroen
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 84
Get Book Here
Book Description
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Get Book Here
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692
Get Book Here
Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Matthew Bishop
Publisher: Bloomberg Press
ISBN: 9781861975805
Category : Business & Economics
Languages : en
Pages : 282
Get Book Here
Book Description
Author: J.E. Trinidad-Segovia
Publisher: MDPI
ISBN: 3036501967
Category : Business & Economics
Languages : en
Pages : 418
Get Book Here
Book Description
This book is a collection of papers for the Special Issue “Quantitative Methods for Economics and Finance” of the journal Mathematics. This Special Issue reflects on the latest developments in different fields of economics and finance where mathematics plays a significant role. The book gathers 19 papers on topics such as volatility clusters and volatility dynamic, forecasting, stocks, indexes, cryptocurrencies and commodities, trade agreements, the relationship between volume and price, trading strategies, efficiency, regression, utility models, fraud prediction, or intertemporal choice.
Author: Jennifer Nicoll Victor
Publisher: Oxford University Press
ISBN: 0190228210
Category : Political Science
Languages : en
Pages : 1011
Get Book Here
Book Description
Politics is intuitively about relationships, but until recently the network perspective has not been a dominant part of the methodological paradigm that political scientists use to study politics. This volume is a foundational statement about networks in the study of politics.
Author:
Publisher: Elsevier
ISBN: 0444633898
Category : Business & Economics
Languages : en
Pages : 749
Get Book Here
Book Description
Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics
Author: Marc Bacchetta
Publisher:
ISBN: 9789287038128
Category : Political Science
Languages : en
Pages : 0
Get Book Here
Book Description
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Author: Peter A. G. van Bergeijk
Publisher: Cambridge University Press
ISBN: 1139488287
Category : Business & Economics
Languages : en
Pages : 373
Get Book Here
Book Description
How do borders affect trade? Are cultural and institutional differences important for trade? Is environmental policy relevant to trade? How does one's income or wage relate to the fact that trade partners are nearby or far away? These are just some of the important questions that can be answered using the gravity model of international trade. This model predicts and explains bilateral trade flows in terms of the economic size and distance between trading partners (e.g. states, regions, countries, trading blocs). In recent years, there has been a surge of interest in this model and it is now one of the most widely applied tools in applied international economics. This book traces the history of the gravity model and takes stock of recent methodological and theoretical advances, including new approximations for multilateral trade resistance, insightful analyses of the measurement of economic distance and analyses of foreign direct investment.
