Short-Selling Bans and the Global Financial Crisis: Are they Interconnected?
Zusammenfassung
This paper begins with the observation that short-selling bans spread globally in 2008. We find some evidence that the bans were unsuccessful at least insofar as they did not take into account the global component a short-selling ban which reduced equity returns in about a third of the 17 countries sampled, most notably in some of the major advanced economies. In the individual countries we examine, the bans had relatively little impact. Our results are suggestive as evidence that the bans stemmed further deterioration in stock prices that policy makers sought to avoid, at least in a few economies.
Schlüsselwörter
Short-selling bans; spillovers; stock markets; dynamic conditional correlations
Zitieren als
Bohl, M., Essid, B., & Siklos, P. (2018). Short-Selling Bans and the Global Financial Crisis: Are they Interconnected?. Applied Economics Quarterly, 64(2), 159–177.Details
Publikationstyp
Forschungsartikel (Zeitschrift)
Begutachtet
Ja
Publikationsstatus
Veröffentlicht
Jahr
2018
Fachzeitschrift
Applied Economics Quarterly
Band
64
Ausgabe
2
Erste Seite
159
Letzte Seite
177
Sprache
Englisch
ISSN
1611-6607
DOI