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The Impact of Euro on Athens Stock Market Index


  • Apostolos Kiohos Athanasios Koulakiotis Anastasios Maligkris

    (Lecturer at the University of Macedonia, Department of International and European Studies, Greece Lecturer at the University of Macedonia, Department of International and European Studies, Greece University of Macedonia, Greece)


This paper examines whether the introduction of Euro in the Greek market has changed the attitude of the Athens Stock Index due time. The estimation results indicate that after the introduction of Euro, the ASE index had more asymmetric effect, while there was a decrease in the existing persistence. In addition, it was depicted that the sign of innovations is significant in the after-Euro period, showing that only the large negative shocks can cause more volatility in contrast to the pre-Euro period, and thus the risk of the ASE index’s stocks was more increased in the after-Euro period.

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  • Apostolos Kiohos Athanasios Koulakiotis Anastasios Maligkris, 2011. "The Impact of Euro on Athens Stock Market Index," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 14(2), pages 1-14, November.
  • Handle: RePEc:zag:zirebs:v:14:y:2011:i:2:p:1-14

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    References listed on IDEAS

    1. Button, Kenneth & Taylor, Samantha, 2000. "International air transportation and economic development," Journal of Air Transport Management, Elsevier, vol. 6(4), pages 209-222.
    2. Forsyth, Peter & King, John & Lyn Rodolfo, Cherry, 2006. "Open Skies in ASEAN," Journal of Air Transport Management, Elsevier, vol. 12(3), pages 143-152.
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