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https://doi.org/10.21256/zhaw-23926| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | Populism and financial markets |
| Autor/-in: | Hartwell, Christopher A. |
| et. al: | No |
| DOI: | 10.1016/j.frl.2021.102479 10.21256/zhaw-23926 |
| Erschienen in: | Finance Research Letters |
| Band(Heft): | 46 |
| Heft: | 102479 |
| Seite(n): | 1 |
| Seiten bis: | 10 |
| Erscheinungsdatum: | 2021 |
| Verlag / Hrsg. Institution: | Elsevier |
| ISSN: | 1544-6123 |
| Sprache: | Englisch |
| Schlagwörter: | Populism; Political volatility; Uncertainty; EGARCH |
| Fachgebiet (DDC): | 320: Politik 332: Finanzwirtschaft |
| Zusammenfassung: | How do financial markets react to populist electoral success? Theoretically, the effect can go in one of two directions. In the first instance, populists tend to espouse resolutely anti-finance ideas, and thus a populist wave would be expected to be bad for financial returns across the board. On the other hand, populists also tend to enact various stimulus and redistributive schemes, and these policies could also give a boost to financial markets. Additionally, in the long-term, if populists become entrenched, they take over the commanding heights, meaning a need for functioning financial markets in order to provide capital for the elites. Utilizing new advances in the measurement of populism, this paper amasses a database of populist advances across developed economies since 2008 and arrays them against equity market performance. Using EGARCH-M volatility modelling on pooled data and event studies on specific episodes of populist success, this analysis reveals that a) populism's effect in the short run is mainly through volatility channels and b) populism's longer-term effects are highly dependent on the specific brand of populism and the country context in which populism operates. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/23926 |
| Volltext Version: | Publizierte Version |
| Lizenz (gemäss Verlagsvertrag): | CC BY-NC-ND 4.0: Namensnennung - Nicht kommerziell - Keine Bearbeitungen 4.0 International |
| Departement: | School of Management and Law |
| Organisationseinheit: | International Management Institute (IMI) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
Dateien zu dieser Ressource:
| Datei | Beschreibung | Größe | Format | |
|---|---|---|---|---|
| 2022_Hartwell_Populism-financial-markets_frl.pdf | 468.3 kB | Adobe PDF |  Öffnen/Anzeigen |
Zur Langanzeige
Hartwell, C. A. (2021). Populism and financial markets. Finance Research Letters, 46(102479), 1–10. https://doi.org/10.1016/j.frl.2021.102479
Hartwell, C.A. (2021) ‘Populism and financial markets’, Finance Research Letters, 46(102479), pp. 1–10. Available at: https://doi.org/10.1016/j.frl.2021.102479.
C. A. Hartwell, “Populism and financial markets,” Finance Research Letters, vol. 46, no. 102479, pp. 1–10, 2021, doi: 10.1016/j.frl.2021.102479.
HARTWELL, Christopher A., 2021. Populism and financial markets. Finance Research Letters. 2021. Bd. 46, Nr. 102479, S. 1–10. DOI 10.1016/j.frl.2021.102479
Hartwell, Christopher A. 2021. “Populism and Financial Markets.” Finance Research Letters 46 (102479): 1–10. https://doi.org/10.1016/j.frl.2021.102479.
Hartwell, Christopher A. “Populism and Financial Markets.” Finance Research Letters, vol. 46, no. 102479, 2021, pp. 1–10, https://doi.org/10.1016/j.frl.2021.102479.
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