Gold and Government Bonds as Safe-Haven Assets Against Stock Market Turbulence in China-Reference-Cited by-同舟云学术

Gold and Government Bonds as Safe-Haven Assets Against Stock Market Turbulence in China

Published:2021-01 Issue:1 Volume:11 Page:215824402199065
ISSN:2158-2440
Container-title:SAGE Open
language:en
Short-container-title:SAGE Open

Author:

Huang Wei¹,Chang Meng-Shiuh²^ORCID

Affiliation:

1. Jiangxi University of Finance and Economics, Nanchang, China

2. Hubei University, Wuhan, China

Abstract

We examine whether gold and China’s government bonds are safe-haven assets against the turbulence of the Shanghai Stock Exchange Composite Index by employing vine copula models during the 2003 to 2015 period. We find that either bonds or gold can be a weak safe haven but only gold can be a strong safe haven. Our simultaneous analysis advises against a joint safe-haven strategy of gold and bonds, given the high- to low-tail correlation. This result highlights an investment strategy of using a single safe-haven asset against the Chinese stock market turbulences.

Publisher

SAGE Publications

Subject

General Social Sciences,General Arts and Humanities

Link

http://journals.sagepub.com/doi/pdf/10.1177/2158244021990655

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