The European sovereign debt crisis and its impacts on financial markets /
[Book]
Go Tamakoshi and Shigeyuki Hamori.
New York :
Routledge,
2015.
1 online resource
Includes bibliographical references and index.
pt. 1. How were dynamic correlations among financial markets changed by the crisis? -- pt. 2. How were causalities among financial markets altered by the crisis? -- pt. 3. When did structural changes in financial markets occur due to the crisis?
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"The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighboring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyzes, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks."--