The Impact of Ukrainian Crisis on the Connectedness of Stock Index in Asian Economies

The main aim of this study is to measure the dynamic connectedness and spillover effects among emerging stock markets in Asia developed US Europe ongoing Ukrainian crisis. paper also aims provide a comparative analysis return volatility spillovers during global financial crisis 2008, COVID-19 pandemic, This utilizes multiple structural beak test Bai & Perron (2003) depicts risk transmissions these using Diebold Yilmaz (2012) method. outcomes indicate that are less affected by political Ukraine as compared previous GFC periods. results show sensitivity Asian shocks has been weakened wake favour increased resilience indices external shocks. These carry an important implication for international local investors well policy makers Asia, where have greater potentials portfolio diversify reduction across markets. Doi: 10.28991/ESJ-2023-07-02-04 Full Text: PDF