The reaction of financial markets to Russia's invasion of Ukraine: evidence from gold, oil, bitcoin, and major stock markets

【Author】 Diaconasu, Delia Elena; Mehdian, Seyed M.; Stoica, Ovidiu

【Source】APPLIED ECONOMICS LETTERS

【影响因子】1.287

【Abstract】Political observers predicted the Ukraine invasion by Russia for many days, but they could not precisely anticipate the scheme and timing of the invasion. This paper investigates the effects of the Russian invasion of Ukraine on the global commodity and stock markets using an event study methodology. The empirical results of this study suggest that this invasion unevenly affected the financial markets. More precisely, our results suggest that the onset of war has put pressure on global gold and stock markets. Furthermore, it seems that the only asset that could be considered a safe haven for investors after the outbreak of the invasion was oil.

【Keywords】Gold price; oil price; bitcoin; stock indices; event study

【发表时间】

【收录时间】2022-08-15

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析