A Study of the Contagion Effect of China's Stock Market Crisis in 2015

• Main Authors: Liu, Ling-Yu, 劉齡喻
• Other Authors: Lee, Hsien-Yi
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/8tcj39

碩士 === 正修科技大學 === 金融管理研究所 === 106 === In August 2015, a crisis of collapse of the Chinese stock market crashed. This crisis caused a severe impact on global financial markets. This article uses the heteroscedasticity biases based on correlation coefficients to test whether this financial crisis will have a contagion effect on global stock markets. The empirical results show that the stock market crash and collapse in 2015 will cause significant spread to the stock markets in Europe, some South America, and some Southeast Asian countries. The result shows that most of the countries that have been spread have close economic and trade ties with China or financial systems, and some countries’ have been pure contagion effects ,which declines are due to the prospect of investor panic.