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Understanding Crime, Political Uncertainty and Stock Market Returns

Author

Listed:
  • Juan Carlos Franco Laverde
  • Maria Estela Varua
  • Arlene Garces-Ozanne

Abstract

Colombia’s economy has experienced positive growth over the past few years despite the incidence of serious armed conflict in the region. However, the Colombia of today still faces a significant degree of sociopolitical instability as a result of organised crime associated with drug trafficking, the leftist guerrilla attacks and the right-wing paramilitary group. This paper examines the significance of organised crime and political uncertainty for the amalgamated Colombian Stock Exchange. Empirical evidence indicates that organised crime and political uncertainty negatively affect stock market returns and volatility.

Suggested Citation

  • Juan Carlos Franco Laverde & Maria Estela Varua & Arlene Garces-Ozanne, 2009. "Understanding Crime, Political Uncertainty and Stock Market Returns," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 10(2), pages 109-116, April.
    • Handle: RePEc:wej:wldecn:378
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    Cited by:

    1. Lucía Morales & Bernadette Andreosso-O’Callaghan, 2019. "Challenges and Opportunities Brought to the Chinese Economy by Brexit and the New US Administration," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(2), pages 145-171, August.
    2. Adeel Nasir & Ștefan Cristian Gherghina & Mário Nuno Mata & Kanwal Iqbal Khan & Pedro Neves Mata & Joaquim António Ferrão, 2022. "Testing Stock Market Efficiency from Spillover Effect of Panama Leaks," JRFM, MDPI, vol. 15(2), pages 1-23, February.

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