The Financial cost of rivalry: A tale of two South Asian neighbours

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Ahmed , S & Hussain , M 2014 , ' The Financial cost of rivalry: A tale of two South Asian neighbours ' Emerging Markets Finance and Trade , vol 50 , no. Supplement 3 , pp. 35-60 . DOI: 10.2753/REE1540-496X5003S303

Title: The Financial cost of rivalry: A tale of two South Asian neighbours
Author: Ahmed, Sheraz; Hussain, Mujahid
Contributor: Hanken School of Economics, Finance, Helsinki
Hanken School of Economics, Finance, Helsinki
Publisher: M.E.Sharpe
Date: 2014
Number of pages: 26
Belongs to series: Emerging Markets Finance and Trade
ISSN: 1540-496X
URI: http://hdl.handle.net/10138/161034
Peer reviewed: Yes
Abstract: This paper examines the impact of bilateral political and military news on the returns and volatility of the stock markets of India and Pakistan. Our results show that the volatility of both stock markets shows a significant reaction on the arrival of the news related to military aggression in a reciprocal way. Moreover, while the Indian stock market’s volatility seems to show a subdued response to bilateral political news, the Pakistani stock market appears to be sensitive to both political and military news originating from either country. The relatively stronger impact of military events can be attributed to a higher financial cost of confrontation between two countries.
Subject: 512 Business and Management
KOTA2014
KOTA2014
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