ROMANIAN FINANCIAL MARKET’S REACTION TO FED TAPERING TALK DURING 2013
Iulian Panait ()
Studii Financiare (Financial Studies), 2014, vol. 18, issue 4, 19-30
This paper examines the reaction of the Romanian financial markets to the changes of monetary policies in the US during 2013. Using daily data for Bucharest Stock Exchange main equity index, EURRON exchange rate, 5 and 2 year government bond price index and 5 year government CDS (USD) price, we found a statistically significant negative reaction to the tapering news, similar in many respects with the reactions of other financial developed and emerging markets in the region. Also, we found that the reactions only manifested on the short term and were reduced in amplitude.
Keywords: monetary policy; financial markets; developing countries; stability; volatility (search for similar items in EconPapers)
JEL-codes: F21 G15 E58 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:18:y:2014:i:4:p:19-30
Access Statistics for this article
More articles in Studii Financiare (Financial Studies) from Centre of Financial and Monetary Research "Victor Slavescu" Contact information at EDIRC.
Bibliographic data for series maintained by Daniel Mateescu ().