Trade dependence and stock market reaction to the Russia-Ukraine war |
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| Authors: | Reza Tajaddini Hassan F. Gholipour |
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| Affiliation: | 1. School of Business, Law, and Entrepreneurship, Swinburne University of Technology, Melbourne, Australia;2. School of Business, Western Sydney University, Sydney, Australia |
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| 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. |
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| Keywords: | conflicts financial markets Russia trade Ukraine war |
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