http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.
변환된 중국어를 복사하여 사용하시면 됩니다.
Conditional Volatility Spillover Effects Across Emerging Financial Markets
Kim Hiang Liow 한국증권학회 2015 Asia-Pacific Journal of Financial Studies Vol.44 No.2
We find that emerging markets were not spared from the 2007 global financial crisis and 2009 European debt crisis. Volatility spillovers are pronounced during these financial crises. Much of the strong volatility spillover effects were from high cross-market volatility move- ments in response to external shocks since the existing interdependence levels were not high. The Lehman turmoil and the European debt crisis have affected the volatility inter- dependence and spillover dynamics in exhibiting different directions and patterns of vola- tility co-movements. Finally, the southern European sovereign debt crisis has not increased the level of volatility spillover effects more than the periods following the Lehman Brothers collapse.