INTEGRATION OF STOCK MARKETS IN THE CONTEXT OF THE COVID 19 PANDEMIC

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F22%3A10250969" target="_blank" >RIV/61989100:27510/22:10250969 - isvavai.cz</a>
Result on the web
<a href="https://msed.vse.cz/msed_2022/sbornik/introduction.html" target="_blank" >https://msed.vse.cz/msed_2022/sbornik/introduction.html</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
INTEGRATION OF STOCK MARKETS IN THE CONTEXT OF THE COVID 19 PANDEMIC
Original language description
Structural changes in the environment, such as the synchronization of economies or financialintegration, affect economic agents and institutions both individually and systemically.Whether the benefits of financial integration outweigh its risks and whether this process willincrease financial stability depends on the resilience and flexibility of the financial system itself.The aim of this paper is an empirical analysis of the development of financial integration of theCzech, Hungarian and Polish stock markets with the euro area market during the periods offinancial (in)stability including the COVID 19 pandemic period. Following the definition offinancial integration that is based on the law of one price, the price-based and news-basedmeasures will be applied in this paper. The empirical analysis will be provided on weekly datain the period from 2004 to 2022. Based on price measures, the overall results indicate that theglobal financial crisis has caused relatively significant price divergence of the CEE stockmarkets with the euro area, while the impact of the COVID 19 pandemic was only temporaland its impact was significantly smaller. On the contrary, the concept of asset price sensitivityshows that financial instability contributes to increasing financial integration.
Czech name
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Czech description
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Project
<a href="/en/project/EE2.3.20.0296" target="_blank" >EE2.3.20.0296: Research team for modelling of economic and financial processes at VSB-TU Ostrava</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
International Days of Statistics and Economics : conference proceedings : September 8–10, 2022, Prague, Czech Republic
ISBN
978-80-87990-29-2
ISSN
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e-ISSN
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Number of pages
10
Pages from-to
449-458
Publisher name
Melandrium
Place of publication
Slaný
Event location
Praha
Event date
Sep 8, 2022
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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