English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

This paper investigates the transmission of shocks during the period of the withdrawal of the United Kingdom from the European Union (BREXIT) across twenty-two equity markets. We use an augmented multifactor model to detect the transmission of contagion effects from the United States and Western Europe to Brazil, Russia, India, China and South Africa, commonly known as ‘the BRICS’ countries, during BREXIT, i.e. the exit of Great Britain from the European Union. Our model captures the unexpected returns and disentangles the simple correlations due to fundamentals and contagion. Our results show that crisis did not have the same effects on the BRICS countries in terms of contamination. More precisely, evidence of fundamental contagion is documented between stock markets. Moreover, Russia was the most contaminated market, and China was the least affected market. Furthermore, the findings prove that the stock market contagion between these countries was transmitted by some channels that have been omitted from the theory.

BREXIT: equity market contagion and transmission channels