Finanse, Rynki Finansowe, Ubezpieczenia

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia

ISSN: 2450-7741    OAI    DOI: 10.18276/frfu.2017.1.85-29
CC BY-SA   Open Access 

Issue archive / 1/2017 (85)
Okresy kryzysu na rynkach strefy euro w latach 2004–2016
(Cr isis Periods On Th e Euro Ar ea Markets In Years 2004–2016)

Authors: Elżbieta Majewska
Uniwersytet w Białymstoku, Wydział Matematyki i Informatyki
Keywords: euro zone financial crisis market states
Data publikacji całości:2017
Page range:11 (351-361)
Cited-by (Crossref) ?:


Purpose – The aim of the paper was to identify the crisis periods in the nineteen Eurozone countries in years 2004-2016 and analyse correctness of down market periods identification. Design/methodology/approach – We used a statistical method of dividing market states into up and down markets. Three methods for verifying the bear market conditions were employed. We used the closing prices of the main indexes of analyzed markets. Findings – We identified bear market conditions in analyzed markets that overlap with global financial crisis in years 2007–2009 and European crisis in years 2009–2012. More bear market conditions were identified for some indexes since 2014.Originality/value – Formal identification of crisis periods allows to investigate the relationships among international markets with respect to the pre-, post- and crisis periods. To the best of our knowledge, formal identification of crisis periods on the nineteen Eurozone markets in years 2004–2016 has not been conducted before.
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