Search results for "rahoitusmarkkinat"
showing 10 items of 17 documents
Ukrainan kriisi ja osakemarkkinat IVY-maiden Venäjä-riippuvuuden kuvaajana
2016
Tämän Pro Gradu–tutkielman tarkoituksena on selvittää vuonna 2014 alkaneen Ukrainan kriisin vaikutusta Kazakstanin, Ukrainan, Kirgisian ja Georgian osakemarkkinaindeksien korrelaatiohin sekä arvioida kyseisten maiden osakemarkkinoiden integroituneisuutta Venäjän osakemarkkinoihin vuodesta 2007 vuoteen 2015 asti. Tutkin myös Venäjälle asetettujen pakotteiden vaikutusta maaparittaisiin ehdollisiin korrelaatioihin. Vastaavanlainen vertailu tehdään myös suhteessa kolmeen globaaliin osakemarkkinaindeksiin tulosten vertaamisen mahdollistamiseksi. Saatujen tulosten perusteella on tarkoitus myös arvioida maiden jäsenyyttä Venäjä-vetoisessa Euraasian unionissa. Tutkimus myös päivittää aikaisempia Ve…
Economic policy uncertainty effects for forecasting future real economic activity
2018
Recently introduced measures for Economic Policy Uncertainty (EPU) included in the data from 1997 - 2016 have a role in forecasting out-of-sample values for the future real economic activity for both the euro area and the UK economies. The inclusion of EPU measures, either for the US, the UK or for overall European economies, improves the forecasting ability of models based on standard financial market information, especially for the period before the 2008 global crisis. However, during and after the crisis period, the slope of the yield curve and excess stock market returns improves the out-of-sample forecast performance the most compared to an AR-benchmark model. Hence, the EPU informatio…
Pankkikriisit kehittyvissä talouksissa
2018
Tässä pro gradu –tutkielmassa tarkastellaan systeemisten pankkikriisien, instituutioiden ja pääoman välistä yhteyttä kehittyvissä talouksissa vuosina 1980-2011. 22:sta kehittyvästä taloudesta koostuvaa paneeliaineistoa hyödyntämällä tarkastellaan logistisella regressiolla selittävien muuttujien vaikutusta pankkikriisien todennäköisyyteen. Tämän tutkimuksen tavoitteet voidaan jakaa kolmeen ryhmään. Ensinnäkin, luoda toistettavuutta aiemmin merkitseviksi havaituille muuttujille. Toiseksi, tarkastella kriisejä käyttäen uutta rahoitusjärjestelmän kehittyneisyyttä kuvaavaa aineistoa. Kolmanneksi, pyrkiä avaamaan kriisejä kehittyvissä maissa synnyttäneitä mekanismeja. Tutkimuksen tuloksissa koros…
Basel Bank Limiting Policies as Foucauldian Power/Knowledge: Risk as Assemblages, The Case of Basel Bank Limiting Policies as Discourses
2023
I intend to write about Basel bank's limiting technologies from the point of view of trust, coming from the fact that banks have to adjust their risk understanding tools and test them constantly. It is not always known what exactly causes a risk. I am interested in risk-understanding technologies which do not govern this in advance but only require passing certain risk tests. Therefore, I will research the idea of Basel’s bank limiting technologies as assemblages that want connections only with other specified assemblages. For example, certain risk levels must be adjusted to form a harmonious whole that passes these tests. I will argue that by understanding Basel’s bank limiting technologie…
Epätavanomaisen rahapolitiikan vaikutukset Yhdysvalloissa
2014
Rahoitussektorin vaikutus talouskasvuun : alemman ja keskimmäisen tulotason maiden empiirinen tarkastelu
2001
Stock Market Integration and the Global Financial Crisis
2014
We study the dynamics of stock market integration and its consequences during the recent financial crisis for twenty-three developed and sixty emerging markets. We find that integration increased slightly for emerging markets but decreased for developed countries during the crisis. Moreover, we argue that the high degree of integration propagated the crisis across the global financial markets at the beginning of the crisis, but it had little effect during the crisis. We also find that integration is mostly affected by financial openness, the institutional environment, and global financial uncertainty but that these determinants vary slightly between emerging and developed markets.
Finland’s great depression of the 1990s: Lessons about financial reform based on econometric macro evidence
2020
The paper re‐examines the Finnish Great Depression of the 1990s, based on an open macro model, with specific dummy variables to identify the initial effects of liberalized financial markets and capital mobility, and of the Russian trade collapse. It is shown that the explosive credit expansion resulting from the simultaneous liberalization of the financial markets and international capital movements in 1986 has played the most important role in explaining the uncontrolled growth and the subsequent depression in 1989 in real economic activity in Finland. Their effects were strengthened by a vicious circle between the financial and asset markets. The Russian trade collapse in 1991 had a small…
Small fish in big ponds : Connections of green finance assets to commodity and sectoral stock markets
2022
We analyze return and volatility connectedness of the rising green asset and the well-established US industry stock and commodity markets from September 2010 to July 2021. We find that the time-varying return and volatility connectedness have exhibited serious crisis jumps. Some individual assets of both the green and commodity markets are in connection to the US sectoral stock market returns, and the volatility connections are even more common than the return connections. Furthermore, some financial and economic uncertainty indicators manifest positive impacts from the volatility of some `big pond markets for e.g. commodities, whereas some others affect the connectedness negatively. Additi…