Risk linkages between China's stock market and APEC stock markets under China's market liberalization

Guanglin Sun, Xiaoyang Yao, Jianfeng Li and Tongyu Lu

Finance Research Letters, 2023, vol. 52, issue C

Abstract: This paper investigates the risk linkages between China's stock market and APEC stock markets, examine the impact of China's capital market liberalization reforms in 2014, 2016 and 2019, and identifies the contribution of driving factors to risk linkages. The empirical results show that China's capital market liberalization reforms have significantly enhanced the risk linkages between China and external stock markets, strengthened the ability of China's stock market to resist external risk shocks and enhanced the impact of risk factors on the net risk spillover of China's stock market. Additionally, the risk linkages and the contribution of driving factors are time-varying.

Keywords: Stock market; APEC; Capital market liberalization innovation; Risk linkage (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612322007620
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:52:y:2023:i:c:s1544612322007620

DOI: 10.1016/j.frl.2022.103586

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().