The impact of the global financial crisis on the efficiency and performance of Latin American stock markets
El impacto de la crisis financiera en la eficiencia y desempeño de mercados latinoamericanos de acciones;
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| dc.creator | Zhu, Zhenzhen | |
| dc.creator | Bai, Zhidong | |
| dc.creator | Vieito, João Paulo | |
| dc.creator | Wong, Wing-Keung | |
| dc.date | 2019-03-27 | |
| dc.date.accessioned | 2019-04-02T13:58:53Z | |
| dc.date.available | 2019-04-02T13:58:53Z | |
| dc.identifier | https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/52632 | |
| dc.identifier.uri | http://revistaschilenas.uchile.cl/handle/2250/2852 | |
| dc.description | We analyze the impact of the most recent global financial crisis (GFC) on the seven most important Latin American stock markets. Our mean-variance analysis shows that the markets are significantly less volatile and, in general, investors prefer to invest in the post-GFC period. Our results from the Hurst exponent and runs and variance-ratio tests show that the randomness and efficiency have been improved after the GFC. The stochastic dominance test shows that the markets are efficient, there is no arbitrage opportunity due to the GFC in our studying period, and, in general, investors prefer investing in the post-GFC period. The results confirm that the 2008 global financial crisis does have some positive impacts on Latin American stock markets. Our findings provide important information for investors and market regulators in their decision making in investment and setting regulations. | en-US |
| dc.description | Este trabajo analiza el impacto de la crisis financiera global del 2008 en siete mercados accionarios latinoamericanos. Usando diversas técnicas, se demuestra que los mercados son menos volátiles, más eficientes, que no hay oportunidades de arbitraje y que los inversionistas prefieren invertir en el periodo posterior a la crisis. Nuestros hallazgos proveen información importante para inversionistas y reguladores. | es-ES |
| dc.format | application/pdf | |
| dc.language | eng | |
| dc.publisher | Departamento de Economía - Facultad de Economía y Negocios, Universidad de Chile. | en-US |
| dc.relation | https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/52632/55227 | |
| dc.rights | Copyright (c) 2019 Estudios de Economía | en-US |
| dc.source | Estudios de Economía; Vol 46 No 1 (2019): June; 5-30 | en-US |
| dc.source | Estudios de Economía; Vol 46 No 1 (2019): June; 5-30 | es-ES |
| dc.source | 0718-5286 | |
| dc.source | 0304-2758 | |
| dc.title | The impact of the global financial crisis on the efficiency and performance of Latin American stock markets | en-US |
| dc.title | El impacto de la crisis financiera en la eficiencia y desempeño de mercados latinoamericanos de acciones | es-ES |
| dc.title | fr-CA | |
| dc.title | pt-BR | |
| dc.type | info:eu-repo/semantics/article | |
| dc.type | info:eu-repo/semantics/publishedVersion |
This item appears in the following Collection(s)
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Estudios de Economía
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