Brexit crisis and its impact on European financial markets (An Econometric Study of the impact of the British stock market index volatility on some European financial indicators)
Abstract
The purpose of this paper is to analyze the impact of Brexit Crisis on global financial markets; By using technical analysis of the volatility of financial market indices of Britain, France and Germany; The impact of the performance of the German and French capital market indices was analyzed and demonstrated for their responsiveness to the dynamics of the British financial market index During the period from January 2016 to December 2016. Results of the study shows that the financial markets studied absorbed the stock market just after the Brexit, representatives of the sudden fluctuations that will disappear gradually. The study also found a causal relationship in two directions from the FTSE100 Index towards the financial markets studied indicators, as demonstrated by the existence of cointegration relationship according to the Johansen and Engel-Granger tests.
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