Populism and financial markets

Hartwell, Christopher A.

doi:10.1016/j.frl.2021.102479

Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-23926

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DC Field	Value	Language
dc.contributor.author	Hartwell, Christopher A.	-
dc.date.accessioned	2022-01-14T13:37:41Z	-
dc.date.available	2022-01-14T13:37:41Z	-
dc.date.issued	2021	-
dc.identifier.issn	1544-6123	de_CH
dc.identifier.uri	https://digitalcollection.zhaw.ch/handle/11475/23926	-
dc.description.abstract	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.	de_CH
dc.language.iso	en	de_CH
dc.publisher	Elsevier	de_CH
dc.relation.ispartof	Finance Research Letters	de_CH
dc.rights	http://creativecommons.org/licenses/by-nc-nd/4.0/	de_CH
dc.subject	Populism	de_CH
dc.subject	Political volatility	de_CH
dc.subject	Uncertainty	de_CH
dc.subject	EGARCH	de_CH
dc.subject.ddc	320: Politik	de_CH
dc.subject.ddc	332: Finanzwirtschaft	de_CH
dc.title	Populism and financial markets	de_CH
dc.type	Beitrag in wissenschaftlicher Zeitschrift	de_CH
dcterms.type	Text	de_CH
zhaw.departement	School of Management and Law	de_CH
zhaw.organisationalunit	International Management Institute (IMI)	de_CH
dc.identifier.doi	10.1016/j.frl.2021.102479	de_CH
dc.identifier.doi	10.21256/zhaw-23926	-
zhaw.funding.eu	Not specified	de_CH
zhaw.issue	102479	de_CH
zhaw.originated.zhaw	Yes	de_CH
zhaw.pages.end	10	de_CH
zhaw.pages.start	1	de_CH
zhaw.publication.status	publishedVersion	de_CH
zhaw.volume	46	de_CH
zhaw.publication.review	Peer review (Publikation)	de_CH
zhaw.webfeed	W: Spitzenpublikation	de_CH
zhaw.author.additional	No	de_CH
zhaw.display.portrait	Yes	de_CH
Appears in collections:	Publikationen School of Management and Law

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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.