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El Repositorio Institucional Ulima centraliza, preserva y difunde en acceso abierto la producción académica, científica y cultural de la Universidad de Lima.

Repositorio Institucional de la Universidad de Lima

El Repositorio Institucional Ulima centraliza, preserva y difunde en acceso abierto la producción académica, científica y cultural de la Universidad de Lima.

Artículo

From uncertainty to adjustment: the influence of the 2023 Israel–Hamas War on Latin American Stock Market Volatility

Fecha
2025
Altmetric
Resumen
This article examines how the 2023 Israel–Hamas War, in the context of geopolitical risk, influenced the volatility of Latin American stock markets via transmission channels such as exchange rate fluctuations and oil price dynamics. Our main findings, derived using a Bayesian panel vector autoregression, suggest that, prior to the outbreak, an increase in the exchange rate and oil prices led to higher stock market volatility; however, after the outbreak, the exchange rate depreciation played a role in reducing volatility. This suggests that Latin American markets internalised the geopolitical shock as part of a broader adjustment process instead of a persistent external risk.
Editor
Elsevier
Cita bibliográfica

Melo-Vega-Angeles, O., & Chuquillanqui Lichardo, B. S. (2025). From uncertainty to adjustment: the influence of the 2023 Israel–Hamas War on Latin American Stock Market Volatility. Elsevier. https://hdl.handle.net/20.500.12724/24471

Melo-Vega-Angeles O, Chuquillanqui Lichardo BS. From uncertainty to adjustment: the influence of the 2023 Israel–Hamas War on Latin American Stock Market Volatility. Elsevier; 2025. Disponible en: https://hdl.handle.net/20.500.12724/24471

@misc{20.500.12724/24471,
	author = "Melo-Vega-Angeles, Oscar and Chuquillanqui Lichardo, Bryan Stephano",
	title = "From uncertainty to adjustment: the influence of the 2023 Israel–Hamas War on Latin American Stock Market Volatility",
	publisher = "Elsevier",
	year = "2025",
	url = "https://hdl.handle.net/20.500.12724/24471",
}
  • dc.contributor.author
    Melo-Vega-Angeles, Oscar
    Chuquillanqui Lichardo, Bryan Stephano
  • dc.contributor.other
    Melo-Vega-Angeles, Oscar
    Chuquillanqui Lichardo, Bryan Stephano
  • dc.date.accessioned
    2026-03-02T20:53:07Z
  • dc.date.available
    2026-03-02T20:53:07Z
  • dc.date.issued
    2025
  • dc.description.abstract
    This article examines how the 2023 Israel–Hamas War, in the context of geopolitical risk, influenced the volatility of Latin American stock markets via transmission channels such as exchange rate fluctuations and oil price dynamics. Our main findings, derived using a Bayesian panel vector autoregression, suggest that, prior to the outbreak, an increase in the exchange rate and oil prices led to higher stock market volatility; however, after the outbreak, the exchange rate depreciation played a role in reducing volatility. This suggests that Latin American markets internalised the geopolitical shock as part of a broader adjustment process instead of a persistent external risk.
  • dc.format
    html
  • dc.identifier.doi
    https://doi.org/10.1016/j.frl.2025.108131
  • dc.identifier.isni
    0000000121541816
  • dc.identifier.issn
    1544-6131
  • dc.identifier.journal
    Finance Research Letters
  • dc.identifier.scopusid
    2-s2.0-105013787001
  • dc.identifier.uri
    https://hdl.handle.net/20.500.12724/24471
  • dc.identifier.wosid
    WOS:001590622200001
  • dc.language.iso
    eng
  • dc.publisher
    Elsevier
  • dc.publisher.country
    NL
  • dc.relation.ispartof
    urn:issn: 1544-6131
  • dc.rights
    info:eu-repo/semantics/openAccess
  • dc.rights.uri
    https://creativecommons.org/licenses/by/4.0/
  • dc.subject
    Conflicto árabe-israelí
    es_PE
    Israel
    es_PE
    Hamas
    es_PE
    Riesgo financiero
    es_PE
    América Latina
    es_PE
    Finanzas
    es_PE
    Análisis bayesiano
    es_PE
    Geopolítica
    es_PE
    Mercado de capitales
    es_PE
  • dc.subject.ocde
    https://purl.org/pe-repo/ocde/ford#5.02.04
  • dc.title
    From uncertainty to adjustment: the influence of the 2023 Israel–Hamas War on Latin American Stock Market Volatility
  • dc.type
    info:eu-repo/semantics/article
  • dc.type.other
    Artículo (Scopus / Web of Science)
  • ulima.cat
    009
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