Safe Haven Instruments – A Comparison Between the Global Financial Crisis and the Covid-19 Pandemic

Al-Awadhi, A. M., Al-Saifi, K., Al-Awadhi, A., and Alhamadi, S. (2020). Death and contagious infectious diseases: Impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, (27). Retrieved from https://doi.org/10.1016/j.jbef.2020.10032610.1016/j.jbef.2020.100326 Search in Google Scholar

Baker, S. R., Bloom, N., Davis, S. J., Kost, K., Sammon, M., and Viratyosin, T. (2020). The unprecedented stock market reaction to COVID-19. Covid Economics, 1(3), 33-42.10.1093/rapstu/raaa008 Search in Google Scholar

Baur, D. G., and Lucey, B. M. (2010). Is gold a hedge or a safe-haven? An analysis of stocks, bonds and gold. Financial Review, (45), 217-229.10.1111/j.1540-6288.2010.00244.x Search in Google Scholar

Baur, D. G., and McDermott, T. K. (2010). Is gold a safe haven? International evidence. Journal of Banking & Finance, (34), 1886-1898.10.1016/j.jbankfin.2009.12.008 Search in Google Scholar

Beckmann, J., Berger, T., and Czudaj, R. (2015). Does gold act as a hedge or a safe-haven for stocks? A smooth transition approach. Economic Modelling, (48), 16-24.10.1016/j.econmod.2014.10.044 Search in Google Scholar

Bloomberg. (2020). Perfect storm plunges Asia stocks into bear markets one by one. Search in Google Scholar

Bouri, E., Shahzad, S., Roubaud, D., Kristoufek, L., and Lucey, B. (2020). Bitcoin, gold, and commodities as safe havens for stocks: New insight through wavelet analysis. The Quarterly Review of Economics and Finance. Retrieved from https://doi.org/10.1016/j.qref.2020.03.00410.1016/j.qref.2020.03.004 Search in Google Scholar

Corbet, S., Larkin, C., and Lucey, B. (2020). The contagion effects of the Covid-19 pandemic: evidence from gold and cryptocurrencies. Finance Research Letters. Retrieved from https://doi.org/10.1016j.frl.2020.10155410.1016/j.frl.2020.101554 Search in Google Scholar

Engle, R. F. (2002). Dynamic conditional correlation: A simple class of multivariate generalized autoregressive conditional heteroskedasticity models. Journal of Business & Economic Statistics, (20), 339.10.1198/073500102288618487 Search in Google Scholar

Goodwell, J. W. (2020). COVID-19 and finance: Agendas for future research. Finance Research Letters, 101512. Retrieved from https://doi.org/10.1016/j.frl.2020.10151210.1016/j.frl.2020.101512 Search in Google Scholar

Grisse, C., and Nitschka, T. (2015). On financial risk and the safe-haven characteristics of Swiss Franc exchange rates. Journal of Empirical Finance, (32), 153-164.10.1016/j.jempfin.2015.03.006 Search in Google Scholar

Hillier, D., Draper, P., and Faff, R. (2006). Do precious metals shine? An investment perspective. Financial Analysts Journal, (62), 98-106.10.2469/faj.v62.n2.4085 Search in Google Scholar

Hood, M., and Malik, F. (2013). Is gold the best hedge and a safe-haven under changing stock market volatility? Review of Financial Economics, (22), 47-52.10.1016/j.rfe.2013.03.001 Search in Google Scholar

Lucey, B. M., and Li, S. (2015). What precious metals act as safe havens, and when? Some US evidence. Applied Economics Letters, 22(1), 35-45.10.1080/13504851.2014.920471 Search in Google Scholar

Kaul, A., and Sapp, S. (2006). Y2K fears and safe haven trading of the US dollar. Journal of International Money and Finance, (25), 760-779.10.1016/j.jimonfin.2006.04.003 Search in Google Scholar

Nakatani, T., and Teräsvirta, T. (2009) Appendix to testing for volatility interactions in the constant conditional correlation GARCH model. Department of Economic Statistics, Stockholm School of Economics.10.1111/j.1368-423X.2008.00261.x Search in Google Scholar

Pullen, T., Benson, K., and Faff, R. (2014). A comparative analysis of the investment characteristics of alternative gold assets. Abacus, (50), 76-92.10.1111/abac.12023 Search in Google Scholar

Ramelli, S., and Wagner, A. F. (2020). Feverish stock price reactions to Covid-19.10.2139/ssrn.3550274 Search in Google Scholar

Ranaldo, A., and Söderlind, P. (2010). Safe haven currencies, review of finance. European Finance Association, 14(3), 385-407.10.1093/rof/rfq007 Search in Google Scholar

The Guardian. (2020). FTSE 100 suffers worst quarter since 1987 as Covid-19 recession looms – as it happened. Search in Google Scholar

Wu, F., Zhao, W., Ji, Q., and Zhang, D. (2020). Dependency, centrality and dynamic networks for international commodity futures prices. International Review of Economics and Finance, (67), 118-132.10.1016/j.iref.2020.01.004 Search in Google Scholar

Xia, T., Ji, Q., Zhang, D., and Han, J. (2019). Asymmetric and extreme influence of energy price changes on renewable energy stock performance. Journal of Cleaner Production, (241), 118338.10.1016/j.jclepro.2019.118338 Search in Google Scholar

Zhang, D., Hu, M., and Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters. Retrieved from https://doi.org/10.1016/j.frl.2020.10152810.1016/j.frl.2020.101528 Search in Google Scholar