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Globalization And Its Influence On The Capital Market

Author

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  • Daniel ?tefan ARMEANU
  • Camelia Cãtãlina JOLDE?

Abstract

The study examined the impact of globalization on the capital market in United States of America, Asia and Europe, using EURO STOXX, S&P500 and NIKKEI 225 stock market indices. In this paper we analyze the impact of globalization on these three major capital markets approaching different tests and methods while taking into account the methodologies used by the other studies on this topic. We exploit daily data of stock exchange for the period of 2000-August 2019. The empirical findings from Granger causality test, confirmed that the stock markets in America and Europe have a unidirectional causality with the Asian capital market. The influence of the American capital market is also found on the European capital market.

Suggested Citation

  • Daniel ?tefan ARMEANU & Camelia Cãtãlina JOLDE?, 2019. "Globalization And Its Influence On The Capital Market," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 1030-1039, November.
    • Handle: RePEc:rom:mancon:v:13:y:2019:i:1:p:1030-1039
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