TY - JOUR
T1 - Lessons from the global financial crisis–the case of Mainland China and Hong Kong
AU - Morales, Lucía
AU - Andreosso-O’Callaghan, Bernadette
N1 - Publisher Copyright:
© 2018, © 2018 The Chinese Economic Association–UK.
PY - 2018/10/2
Y1 - 2018/10/2
N2 - The analysis of the intertwined reactions of Hong Kong and Mainland China to the 2008 Global Financial Crisis is considered in this study through the lenses of their stock markets. The GARCH-based analysis of stock market performance over the period December 2011–December 2014 shows that trade and equity sectors were the sectors most affected by the global recession; volatility was prevalent on the Shanghai stock market, whereas volatility persistence characterised the Hong Kong stock market. The results also show that the two stock markets recovered quite quickly. Tight controls applied by the financial authorities helped ensure some stability during the crisis.
AB - The analysis of the intertwined reactions of Hong Kong and Mainland China to the 2008 Global Financial Crisis is considered in this study through the lenses of their stock markets. The GARCH-based analysis of stock market performance over the period December 2011–December 2014 shows that trade and equity sectors were the sectors most affected by the global recession; volatility was prevalent on the Shanghai stock market, whereas volatility persistence characterised the Hong Kong stock market. The results also show that the two stock markets recovered quite quickly. Tight controls applied by the financial authorities helped ensure some stability during the crisis.
KW - Global financial crisis
KW - sectors and stock markets
KW - volatility
UR - http://www.scopus.com/inward/record.url?scp=85047665087&partnerID=8YFLogxK
U2 - 10.1080/14765284.2018.1470416
DO - 10.1080/14765284.2018.1470416
M3 - Article
AN - SCOPUS:85047665087
SN - 1476-5284
VL - 16
SP - 375
EP - 392
JO - Journal of Chinese Economic and Business Studies
JF - Journal of Chinese Economic and Business Studies
IS - 4
ER -
