Flight-to-quality or contagion effect? An analysis from the Turkish and the US financial markets
In this paper, we investigate the presence of flight-to-quality from stocks to bonds as they are the two alternative asset classes predominantly used for hedging investment risk. A negative correlation between stock and bond markets is taken as a prognostication of flight-to-quality, while a positiv...
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| Format: | Article |
| Language: | English |
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Institute of Public Finance
2015-09-01
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| Series: | Financial Theory and Practice |
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| Online Access: |
http://fintp.ijf.hr/upload/files/ftp/2015/3/gencer.pdf
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