Analysis of the Hungarian investment funds along economic cycles

IF 0.6 Q2 Social Sciences
Emese Melinda Bogáth, Sándor Gáspár, Gergő Thalmeiner, Judit Bárczi
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引用次数: 0

Abstract

As a result of the 2008 financial crisis, the international financial system underwent a fundamental change. The crisis has highlighted various weaknesses in the economic system. One of these weaknesses was the unregulated nature of investment markets and their inefficient structural structure. Funds managed by investment fund managers have also been hit hard by the crisis. In the post-crisis period of 2008, there was a dynamic economic boom, which also affected the types of investment funds and their changes. However, the economic crisis caused by the COVID-19 pandemic from 2020 onwards is a special crisis. Its unique nature is reflected in the fact that financial markets have remained stable under the influence of central banks. This, in turn, did not necessarily affect the investment market, and in particular investment funds, as expected in the event of a downturn. In our research, we illustrate the change of investment funds along economic cycles through the quantitative changes of Hungarian investment funds. In our analysis, we illustrate the evolution of fund changes through hierarchical cluster analyzes. In the course of our research, we found that Hungarian investment funds move in line with market and retail investment trends, and the structure of investment funds does not show a significant change during the sixteen years examined, regardless of changes in economic cycles.
匈牙利经济周期投资基金分析
2008年金融危机爆发后,国际金融体系发生了根本性变化。这场危机突出了经济体系中的各种弱点。这些弱点之一是投资市场不受监管的性质及其低效的结构结构。投资基金经理管理的基金也受到了危机的沉重打击。2008年后危机时期,经济出现了动态繁荣,这也影响了投资基金的类型及其变化。但是,2020年以后因新冠疫情引发的经济危机是一种特殊危机。它的独特性反映在金融市场在中央银行的影响下保持稳定这一事实上。反过来,这并不一定会影响投资市场,特别是投资基金,正如预期的那样,在经济低迷的情况下。在我们的研究中,我们通过匈牙利投资基金的数量变化来说明投资基金在经济周期中的变化。在我们的分析中,我们通过层次聚类分析来说明基金变化的演变。在我们的研究过程中,我们发现匈牙利的投资基金与市场和零售投资趋势一致,投资基金的结构在16年的研究中没有显示出显著的变化,无论经济周期的变化。
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来源期刊
Economic Annals-XXI
Economic Annals-XXI ECONOMICS-
CiteScore
1.50
自引率
0.00%
发文量
0
期刊介绍: The Economic Annals-XXI Journal – recognized in Ukraine and abroad scientific-analytic edition. Scientific articles of leading Ukrainian and other foreign scientists, postgraduate students and doctorates, deputies of Ukraine, heads of state and local authorities, materials of scientific conferences and seminars; reviews on scientific monographs, etc. are regularly published in this Journal.
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