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The impact of party alternative on the stock market: the case of Japan

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  • Chin-Tsai Lin
  • Yi-Hsien Wang
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    Abstract

    This paper tries to clarify whether change in political regime has an effect on the behaviour of the stock market in Japan. The empirical study finds that the transition of ruling party effect is not a crucial variable to the Nikkei 225. The alienation felt by the Japanese about the political environment, resulting in a succession of prime ministers, does not influence the Nikkei 225 stock market behaviour. Therefore, former prime ministers who have resigned have become scapegoats for the poor performance of financial and economic policies.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 39 (2007)
    Issue (Month): 1 ()
    Pages: 79-85

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    Handle: RePEc:taf:applec:v:39:y:2007:i:1:p:79-85

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    12. Kim, Harold Y. & Mei, Jianping P., 2001. "What makes the stock market jump? An analysis of political risk on Hong Kong stock returns," Journal of International Money and Finance, Elsevier, vol. 20(7), pages 1003-1016, December.
    13. Engle, Robert F. & Mustafa, Chowdhury, 1992. "Implied ARCH models from options prices," Journal of Econometrics, Elsevier, vol. 52(1-2), pages 289-311.
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