Christos Kollias

TL;DR: Using a long historical perspective on whether the time-varying stock covariance, their returns and their variances are affected by geopolitical risk, as encapsulated and quantified by a recently developed index, this paper found that geopolitical risk triggers a negative effect on oil returns and volatility, and to a smaller degree on the covariance between the two markets.

TL;DR: In this article, the authors investigated the effects of two terrorist incidents (the bomb attacks of 11th March 2004 in Madrid and 7th July 2005 in London) on equity sectors and found that significant negative abnormal returns are widespread across the majority of sectors in the Spanish markets but not so in the case of London.

TL;DR: In this article, the effects of war and terrorism on the covariance between oil prices and the indices of four major stock markets (S&P500, the European DAX, CAC40 and FTSE100) were investigated using non-linear BEKK-GARCH type models.

TL;DR: In this article, the authors examined the relationship between military expenditure and growth among the EU15 members using co-integration and causality tests for the period 1961-2000 and found that an important number of governments in the European Union (EU) make defence spending policy decisions based on the state of their economy with the concomitant implications for the objective of a Common European Security and Defence Policy (CESDP).

TL;DR: In this paper, the authors assess the dynamic process of convergence among four major European stock markets in the first eurodecade using tests that allow for endogenously determined breaks in cointegrating relationships and rolling cointegration analysis.