کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5087218 1478249 2016 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The effect of North Korean threats on financial markets in South Korea and Japan
ترجمه فارسی عنوان
تأثیر تهدیدهای کره شمالی در بازارهای مالی کره جنوبی و ژاپن
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

This paper examines the effects of North Korean threats, as measured by the proprietary North Korean Threat Index (NKTI), on financial markets in South Korea and Japan. We examine the effects of the threats on stock markets, foreign exchange markets, and overnight interest rates. We consider causality in mean and variance tests to determine any link between the NKTI and financial variables. The causality-in-mean test results indicate the presence of a causal link running from North Korean threats to stock returns and exchange rate returns in both countries, but no significant link to the overnight interest rate in either country. The causality-in-variance test results indicate no significant impact emanating from North Korean threats. Integrating the North Korean economy into the global economy stands to eliminate these threats and thus to contribute to regional financial stability.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Asian Economics - Volume 43, April 2016, Pages 18-26
نویسندگان
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