Safe flight to which haven when Russia invades Ukraine? A 48-hour story

【Author】 Mohamad, Azhar

【Source】ECONOMICS LETTERS

【影响因子】1.469

【Abstract】We examine the flight-to-safety phenomenon from ruble (risky asset) to other safe-haven assets at the onset of the Russian invasion of Ukraine on 24 February 2022. We find evidence of flight-to-safehaven occurrences from the ruble to the USD, yen, silver, Brent, WTI and natural gas as indicated by negative dynamic conditional correlations between these assets. Price discovery surrounding the invasion is found to be dominated by Brent and bitcoin. Further, we observe the presence of herding behaviours between energy commodities (Brent, WTI, gasoline and natural gas) and cryptocurrencies (bitcoin, ethereum and litecoin). (C) 2022 Elsevier B.V. All rights reserved.

【Keywords】Flight-to-safety; Safe haven; Ruble; Bitcoin; Price discovery; Herding

【发表时间】2022 JUL

【收录时间】2022-08-15

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-数字货币