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- Title
Economic News and International Stock Market Co-movement.
- Authors
ALBUQUERQUE, RUI; VEGA, CLARA
- Abstract
The article presents a study which investigated the effects of U.S. news announcements on stock market co-movement on the small, open economy of Portugal. It discusses the two leading theories on the reason stock markets around the world co-move and gives reasons why Portugal was chosen to represent small economies by the researchers. The study showed that U.S. news announcements affect the stock market returns in Portugal but not the correlation of stock returns across the two countries.
- Subjects
UNITED States; PORTUGAL; STOCK exchanges; FINANCIAL markets; CAPITAL market
- Publication
Review of Finance, 2009, Vol 13, Issue 3, p401
- ISSN
1572-3097
- Publication type
Article
- DOI
10.1093/rof/rfn020