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How Do Extreme Global Shocks Affect Foreign Portfolio Investment? An Event Study for India

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  • Anick Yaha
  • Nirvikar Singh
  • Jean Paul Rabanal

Abstract

Foreign portfolio flows in and out of India are relevant for policymakers, and are often portrayed in the media as having a destabilizing effect on the domestic market. We use an event study approach to examine whether extreme global shocks trigger abnormal responses in foreign equity flows in and out of India, or abnormal responses in the Indian stock market. We do not find strong evidence of abnormal responses, even for the case of the global crisis of 2008.

Suggested Citation

  • Anick Yaha & Nirvikar Singh & Jean Paul Rabanal, 2017. "How Do Extreme Global Shocks Affect Foreign Portfolio Investment? An Event Study for India," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(8), pages 1923-1938, August.
    • Handle: RePEc:mes:emfitr:v:53:y:2017:i:8:p:1923-1938
    DOI: 10.1080/1540496X.2016.1204599
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    Cited by:

    1. Saif Siddiqui & Preeti Roy, 2021. "Asymmetric Effects of Exchange Rate and Its Relationship with Foreign Investments: A Case of Indian Stock Market," Vision, , vol. 25(4), pages 415-427, December.
    2. Samargandi, Nahla & Kutan, Ali M. & Sohag, Kazi & Alqahtani, Faisal, 2020. "Equity market and money supply spillovers and economic growth in BRICS economies: A global vector autoregressive approach," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).

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