A Comparison of Global Financial Market Recovery after the 2008 Global Financial Crisis

Foo Jennifer () and Witkowska Dorota ()
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Foo Jennifer: Stetson University Department of Finance School of Business Administration 421 N. Woodland Blvd, Deland, USA
Witkowska Dorota: University of Lodz Department of Finance and Strategical Management Matejki 22/26 65, 90-237 Łódź, Poland

Folia Oeconomica Stetinensia, 2017, vol. 17, issue 1, 109-128

Abstract: The Financial Crisis of 2007-2009 plunged countries into a Great Recession and focused the world’s attention on the global stock markets. The global contagion has a major impact on global stock markets, with the U.S. DJIA falling to 6,547.05 on March 9, 2009 from a high of 14,164.53 on October 9, 2007, with a loss of more than 54%. Other stock markets also had a precipitous drop during the financial crisis. However, some equity markets have recovered while others have not. This paper looks at how global markets compared in their recovery. This paper also investigates the advanced countries’ recovery relative to the emerging and developing countries in the aftermath of the financial crisis and their ability to climb back to the pre-financial crisis levels. Analysis is provided for 31 stock indexes from January 2005 to March 2013. In 2013 the majority of analysed stock markets recovered from the crises regardless of if they belong to the group of developed or emerging markets.

Keywords: Financial Crisis; Stock Markets; Global Markets (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:17:y:2017:i:1:p:109-128:n:9

DOI: 10.1515/foli-2017-0009

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