Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?

Autor:	M. Kabir Hassan, Yasser Alhenawi, Md. Mamunur Rashid, Md. Bokhtiar Hasan
Rok vydání:	2021
Předmět:	Economics and Econometrics Coronavirus disease 2019 (COVID-19) COVID-19 Hedge Islam Financial system Stock market index Article Safe haven Financial crisis Pandemic 2008 GFC Stock market Business Hedge (finance) US stock market Finance
Zdroj:	Global Finance Journal
ISSN:	1044-0283
DOI:	10.1016/j.gfj.2021.100668
Popis:	This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::2d5a5453224a47e8fa5dbd8dc53f9b45 https://doi.org/10.1016/j.gfj.2021.100668 Zobrazit plný text záznamu Full Text from ScienceDirect