Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?

This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have be...

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Autores principales: Hasan, Md. Bokhtiar, Hassan, M. Kabir, Rashid, Md. Mamunur, Alhenawi, Yasser
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8575456/
http://dx.doi.org/10.1016/j.gfj.2021.100668
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author Hasan, Md. Bokhtiar
Hassan, M. Kabir
Rashid, Md. Mamunur
Alhenawi, Yasser
author_facet Hasan, Md. Bokhtiar
Hassan, M. Kabir
Rashid, Md. Mamunur
Alhenawi, Yasser
author_sort Hasan, Md. Bokhtiar
collection PubMed
description This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.
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spelling pubmed-85754562021-11-09 Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic? Hasan, Md. Bokhtiar Hassan, M. Kabir Rashid, Md. Mamunur Alhenawi, Yasser Global Finance Journal Article This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time. Elsevier Inc. 2021-11 2021-08-13 /pmc/articles/PMC8575456/ http://dx.doi.org/10.1016/j.gfj.2021.100668 Text en © 2021 Elsevier Inc. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Hasan, Md. Bokhtiar
Hassan, M. Kabir
Rashid, Md. Mamunur
Alhenawi, Yasser
Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title_full Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title_fullStr Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title_full_unstemmed Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title_short Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
title_sort are safe haven assets really safe during the 2008 global financial crisis and covid-19 pandemic?
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8575456/
http://dx.doi.org/10.1016/j.gfj.2021.100668
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