Linkage of national stock markets during the financial crisis analysis

[packtoo]

On linkage between national stock markets, controversial long time. Zhiwu (2009) asserted, "China's stock market has always been its own way, not associated with global stock markets" (p. 222). Lucey and Voronkova (2008) also found that the basic Russian stock market long term effects from global stock markets, its operation is relatively independent. While others conclusions of the study was different. If Ozdemir et al (2009) found that the stock market in the world there so-called "center - periphery relations", that is, as the center of the stock market affect other markets, other markets exist as peripheral; the external market, but has no effect on the central market.Ozdemir and others in the study, the U.S. stock market as the central treatment, and to include China, Brazil, including 15 emerging stock markets as a peripheral treatment. Some research indicates that the financial crisis will make the short-term relationship between stock market changes, such as Lucey and Voronkova (2008) research suggests that the Asian financial crisis, Russian stock market and developed markets (U.S., UK and European monetary union countries ) and regional markets (Poland, Czech Republic and Hungary) than the correlation of pre-crisis, post-crisis high. As the object of study, research methods and the different periods in the stock market relationship between the study did not setTheory. Because of this, which makes it necessary to continue research in this area, to find more new arguments or points of view. If the study found between the two countries there is a strong market ......