Abstract
Using data from 83 countries, we show that the decline in the value of stock market indices in response to the Russia-Ukraine war was sharper in countries that have stronger trade ties (both exports and imports) with Russia and Ukraine. We also find the relationship between trade dependency and market drop is weaker in countries with more trade openness.
| Original language | English |
|---|---|
| Pages (from-to) | 680-691 |
| Number of pages | 12 |
| Journal | International Review of Finance |
| Volume | 23 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - Sept 2023 |
Bibliographical note
Publisher Copyright:© 2023 The Authors. International Review of Finance published by John Wiley & Sons Australia, Ltd on behalf of International Review of Finance Ltd.
Open Access - Access Right Statement
© 2023 The Authors. International Review of Finance published by John Wiley & Sons Australia, Ltd on behalf of International Review of Finance Ltd. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License (https://creativecommons.org/licenses/by-nc-nd/4.0/), which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.Keywords
- trade
- Ukraine
- conflicts
- war
- financial markets
- Russia
