{"title":"能源、金属、谷物和七国集团指数:俄乌冲突和风险溢出","authors":"Maria Leone , Alberto Manelli , Roberta Pace","doi":"10.1016/j.frl.2025.107557","DOIUrl":null,"url":null,"abstract":"<div><div>The economies of each State are increasingly interconnected and depend on international trade. The intricate set of connections and transactions was put to the test during the Russia–Ukraine conflict. The TVP-VAR model is used to investigate the connectedness among G7 stock indices and commodity markets. Results show that spillovers are dynamic and crisis sensitive and the response at the war has been instantaneous and in counter trend. Therefore, the war significantly affected most of the G7 stock prices through commodity prices. This dependence on raw materials makes the G7 countries closely tied to the belligerents more sensitive than others to international crises and conflicts.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"82 ","pages":"Article 107557"},"PeriodicalIF":6.9000,"publicationDate":"2025-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Energy, metals, cereals and G7 indices: Russia–Ukraine conflict and risk spillovers\",\"authors\":\"Maria Leone , Alberto Manelli , Roberta Pace\",\"doi\":\"10.1016/j.frl.2025.107557\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>The economies of each State are increasingly interconnected and depend on international trade. The intricate set of connections and transactions was put to the test during the Russia–Ukraine conflict. The TVP-VAR model is used to investigate the connectedness among G7 stock indices and commodity markets. Results show that spillovers are dynamic and crisis sensitive and the response at the war has been instantaneous and in counter trend. Therefore, the war significantly affected most of the G7 stock prices through commodity prices. This dependence on raw materials makes the G7 countries closely tied to the belligerents more sensitive than others to international crises and conflicts.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"82 \",\"pages\":\"Article 107557\"},\"PeriodicalIF\":6.9000,\"publicationDate\":\"2025-05-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612325008165\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325008165","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Energy, metals, cereals and G7 indices: Russia–Ukraine conflict and risk spillovers
The economies of each State are increasingly interconnected and depend on international trade. The intricate set of connections and transactions was put to the test during the Russia–Ukraine conflict. The TVP-VAR model is used to investigate the connectedness among G7 stock indices and commodity markets. Results show that spillovers are dynamic and crisis sensitive and the response at the war has been instantaneous and in counter trend. Therefore, the war significantly affected most of the G7 stock prices through commodity prices. This dependence on raw materials makes the G7 countries closely tied to the belligerents more sensitive than others to international crises and conflicts.
期刊介绍:
Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies.
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