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Olympic Games, Terrorism and their Impact on the London and Paris Stock Exchanges

Author

Listed:
  • Georgios Kavetsos
  • Stefan Szymanski

Abstract

This paper examines the impact of the announcement of the 2012 Olympic Games and the July 7th London terrorist attacks on the indices of the London and Paris Stock Exchanges. Using a GARCH ( 1,1 ) − t specification, we are able to show that both events are estimated to have the expected sign, whereas the degree of significance varies depending on the specification of the terrorism dummy variable used.

Suggested Citation

  • Georgios Kavetsos & Stefan Szymanski, 2008. "Olympic Games, Terrorism and their Impact on the London and Paris Stock Exchanges," Revue d'économie politique, Dalloz, vol. 118(2), pages 189-206.
  • Handle: RePEc:cai:repdal:redp_182_0189
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