在2008年全球金融危机和COVID-19大流行期间,避风港资产真的安全吗?
Md Bokhtiar Hasan1, M Kabir Hassan2, Md Mamunur Rashid1
1Department of Finance and Banking, Islamic University, Kushtia-7003, Bangladesh.
概括
这项研究发现了新的避风港资产,如在危机期间的伊斯兰股票指数和Tether. 黄金和比特币等传统资产也表现出避风港属性,表明避风港可以随着时间的推移而改变.
科学领域:
- 金融经济学 金融经济学
- 市场分析市场分析
- 投资策略 投资策略
背景情况:
- 金融危机,如2008年全球金融危机 (GFC) 和COVID-19大流行,对全球市场产生重大影响.
- 识别在经济衰退期间保持或增加价值的资产对于投资者和政策制定者来说至关重要.
研究的目的:
- 在两个主要的经济危机期间,评估12个不同资产的避风港属性.
- 在波动的市场条件下识别新兴和传统的避风港资产.
主要方法:
- 对资产业绩与美国股票市场的比较分析.
- 检查2008年GFC和COVID-19大流行期间的资产行为.
主要成果:
- 在2008年GFC期间,白银和伊斯兰股票指数充当了安全的避风港.
- 伊斯兰股票指数和Tether在COVID-19大流行期间表现出了避风港特征.
- 在严重的市场衰退期间,黄金和比特币保持了避风港行为,伊斯兰股票指数和Tether成为新的避风港.
结论:
- 安全避风港资产不是静态的,可以随着时间的推移而演变.
- 伊斯兰股票指数和Tether代表了新的,有效的避风港.
- 在极端市场压力期间,黄金和比特币继续是相关的避风港资产.
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