Relationships Between World Stock Market Indices: Evidence from Economic Networks

被引：1
|
作者：
Fucik, Vojtech [1 ]
机构：
[1] Univ Econ, Dept Banking & Insurance, Nam W Churchilla 4, Prague 13067, Czech Republic
来源：
IMPACT OF GLOBALIZATION ON INTERNATIONAL FINANCE AND ACCOUNTING | 2018年
关键词：
Minimum spanning tree; Clustering; Stock market indices;
D O I：
10.1007/978-3-319-68762-9_5
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The main objective of this paper is to analyse the relationships between world stock market indices. Classical minimum spanning tree approach is used, supported by edge stability analysis via bootstrap technique. Centrality measures analysis is applied for finding hubs in the network. Stock market indices are found to cluster according to the geographical continent they belong to. Hang Seng Index and CAC 40 are argued to be the most influential and important indices in the world. Evidence of large intra-continental and lower intercontinental stock market integration is observed.
引用
收藏
页码：43 / 51
页数：9
相关论文
共 50 条
  • [21] Islamic, socially responsible, and conventional market comovements: Evidence from stock indices
    Paltrinieri, Andrea
    Floreani, Josanco
    Kappen, Jeffrey A.
    Mitchell, Matthew C.
    Chawla, Kavilash
    [J]. THUNDERBIRD INTERNATIONAL BUSINESS REVIEW, 2019, 61 (05) : 719 - 733
  • [22] Asymmetric return patterns: evidence from 33 international stock market indices
    Evans, Twm
    McMillan, David G.
    [J]. APPLIED ECONOMICS LETTERS, 2009, 16 (08) : 775 - 779
  • [23] Forecasting Stock Market Indices with the Composite Leading Indicators: Evidence from Turkey
    Kilci, Esra N.
    [J]. SOSYOEKONOMI, 2020, 28 (43) : 119 - 134
  • [24] The Relationship Between World and Local Stock Indices
    Blahun, Ivan S.
    Blahun, Ivan I.
    [J]. MONTENEGRIN JOURNAL OF ECONOMICS, 2020, 16 (01) : 55 - 67
  • [25] The World Stock Market Based on the Complex Networks
    Li, Yaohua
    Yao, Hongxing
    [J]. 2009 INTERNATIONAL SYMPOSIUM ON INTELLIGENT INFORMATION SYSTEMS AND APPLICATIONS, PROCEEDINGS, 2009, : 467 - 470
  • [26] The world is shrinking: Evidence for stock market convergence
    Jayasuriya, Shamila
    Shambora, William
    [J]. ECONOMICS BULLETIN, 2008, 7
  • [27] The impact of stock market on real economic activity: Evidence from Turkey
    Kaplan, Muhitin
    [J]. Journal of Applied Sciences, 2008, 8 (02) : 374 - 378
  • [28] ECONOMIC GROWTH AND STOCK MARKET DEVELOPMENT: EVIDENCE FROM SELECTED COUNTRIES
    Dorjdagva, Odbileg
    Batchuluun, Jamiyansharav
    Damiran, Suvdaa
    Natsagdorj, Bayantur
    [J]. JOURNAL OF EASTERN EUROPEAN AND CENTRAL ASIAN RESEARCH, 2024, 11 (04): : 754 - 767
  • [29] Economic uncertainty and structural reforms: Evidence from stock market volatility
    Bonfiglioli, Alessandra
    Crino, Rosario
    Gancia, Gino
    [J]. QUANTITATIVE ECONOMICS, 2022, 13 (02) : 467 - 504
  • [30] Stock market development and economic growth: Empirical evidence from China
    Pan, Lei
    Mishra, Vinod
    [J]. ECONOMIC MODELLING, 2018, 68 : 661 - 673
12345