| Autor: |
OPREAN, Camelia, BANU, Ilie |
| Předmět: |
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| Zdroj: |
Management of Sustainable Development; 2009, Vol. 1 Issue 2, p1-10, 10p |
| Abstrakt: |
Every nation's economic development is directly impacted by volatility in its stock market. In this article we will try to explain the collapse of the Romanian stock market since 2008, and the changes to the current one in the context of the globalized financial markets. Stock market volatility has implications on financial and economic activities in Romania and the dynamics of major stock markets around the world can have ramifications on the Romanian stock market. The linkages among stock markets can be analyzed to determine if there are any common forces driving the long-run movement of stock indexes or returns, or if each individual stock index or return is driven solely by its own fundamentals. In this paper we investigate the co-movement of the Romanian market with major stock markets, with special reference to North America and Europe. The study is hoped to show the linkages of how Romanian stock market react on the international financial arena with differing inflows of information and economic shocks from the international stock markets. The Romanian investors had "imported" the crisis through financial investments, at the time when the economic crisis was not yet felt in the national economy. The Romanian stock market volatility due to world market dynamics has further implications on financial and economic activities in Romania. [ABSTRACT FROM AUTHOR] |
| Databáze: |
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