Naslov
Derivatives Markets Development and Country Political Risk

Autori
Škrabić Perić, Blanka ; Smiljanić Rimac, Ana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
SOR '21 proceedings : the 16th International Symposium on Operational Research in Slovenia / Drobne, S. ; Zadnik Stirn, Lidija ; Kljajić Borštnar, Mirjana. ; Povh, Janez ; Žerovnik, Janez (ur.). - Lahti : Slovensko društvo informatika, 2021, 519-524

ISBN
978-961-6165-57-0

Skup
16th International Symposium on Operations Research in Slovenia (SOR '21)

Mjesto i datum
Bled, Slovenija, 22.09.2021. - 24.09.2021

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
derivatives, country political risk, financial system development, non-causality test in heterogeneous panel

Sažetak
This paper investigates the impact of country political risk on currency derivatives market turnover for 19 countries. Previous empirical literature has confirmed the role that political risk has on financial institutions and the stock market development, whereas the relationship between currency derivatives and political risk has not been empirically investigated Therefore, taking into account the heterogeneity of the selected currency derivatives markets and a possible heterogeneity in the relationship between derivatives turnover and political risk, heterogeneous non-causality test in panels are employed. This method successfully deals with both types of heterogeneity. The results have confirmed the heterogeneous causality of political risk on currency derivatives markets. Moreover, political risk has a more significant effect on currency derivatives turnover in countries with a less developed financial system

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA