Abstract
The war between Russia and Ukraine has become almost the most controversial topic in 2022. As Russia is a country with rich energy resources and the most sanctioned country in the world, the war influences global financial markets in various aspects. In this research, I investigate the gold, crude oil markets, military-industrial sector in the equity market, and investor sentiments to find the effect of the war. By comparing ex-post with ex-ante descriptive statistics and regressing asset prices on the VIX index, the research finds that the war increases all the three assets' prices and market uncertainty. Investor sentiments proxied by the VIX index have significantly positive impacts on gold price; positive but not significant impacts on crude oil price; significantly negative effects on military stocks.
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献