Work

Measuring contagion effects of nuclear energy policies and events

Year: 2021

Type: article

Abstract: This paper investigates the contagion effects of five regional nuclear accidents, nuclear expansions, or nuclear phase-out events or policies from 2007 to 2017 on the stock markets of the global nuclear energy markets. Contagion tests based on correlation and higher order comoments are applied to determine how these events or policy shocks affect global nuclear energy stock prices. The empirical results show that the Fukushima nuclear accident had the most significant impact on global nuclear energy markets, followed by the Korean nuclear expansion, while the German, Korean, and French nuclear phase-out policies had the least pervasive contagion. The nonlinear dependence test detected more evidence of contagion than did the linear dependence test, indicating that both asymmetric and extremal dependences are important dimensions of measuring risk contagion in nuclear energy markets.

Source: International Journal of Energy Research

DOI: 10.1002/er.6421

Authors: Cody Yu‐Ling Hsiao, Yinlin Ou, Ni Sheng, Xinyang Wei

Institutions: Macau University of Science and Technology, Australian National University

Language: English

Topic: Market Dynamics and Volatility

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Good health and well-being

Open Access status: bronze

Funders: National Natural Science Foundation of China, Fundo para o Desenvolvimento das Ciências e da Tecnologia