This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanism-contagion-during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41...

Do changes of oil prices have an effect on the stocks of oil companies in emerging markets? Do the shares of oil companies of emerging markets react to the price news in a similar way as those of the Western companies? This paper aims to answer these questions utilising various event study...