Emerging market stock returns impacted by dollar – BIS paper

dollars-perspective

Research published by the Bank for International Settlements presents further evidence that the US dollar impacts financial conditions around the globe, finding a key role for the exchange rate in driving stock market returns.

Valentina Bruno, Ilhyock Shim and Hyun Song Shin say they offer three key “analytical contributions”. They develop a summary measure of the sensitivity of emerging market economies’ stock returns to the bilateral dollar exchange rate. They show the broad dollar index can

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