Is gold a safe haven? International evidence

The aim of this paper is to examine the role of gold in the global financial system. We test the hypothesis that gold represents a safe haven against stocks of major emerging and developing countries. A descriptive and econometric analysis for a sample spanning a 30 year period from 1979 to 2009 sho...

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Bibliographic Details
Published in:Journal of banking & finance 2010-08, Vol.34 (8), p.1886-1898
Main Authors: Baur, Dirk G., McDermott, Thomas K.
Format: Article
Language:English
Subjects:
Brazil
Capital market
China
Developing countries
Econometrics
Economic crisis
Emerging markets
Financial economics
Financial institutions
Financial markets
Financial systems
Finanzkrise
Gold
Gold markets
Gold Safe haven Financial markets Uncertainty
Hedging
India
International finance
Internationaler Finanzmarkt
LDCs
Manycountries
Precious metals
Russian Federation
Safe haven
Securities markets
Stock exchanges
Stock prices
Stocks
Studies
Uncertainty
Welt
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