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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Bibliographic Details
Main Author: Hatice Gaye Gencer
Format: Article
Language:English
Published: Institute of Public Finance 2015-09-01
Series:Financial Theory and Practice
Subjects:
Online Access: http://fintp.ijf.hr/upload/files/ftp/2015/3/gencer.pdf