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| Budi Wahyono, Whelsy Boungou, Subroto Rapih and Khresna Bayu Sangka |
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| ''Nobody (even stock markets) likes war: Evidence from the Israel-Hamas war'' |
| ( 2025, Vol. 45 No.1 ) |
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| We examine the effect of the war between Israel and Hamas on the stock markets of countries in the Middle East and North Africa (MENA). Due to the intensification of attacks since the outbreak of the war and the proximity of MENA countries to the warring territories, the stock indices of MENA countries react negatively to this war. This negative impact is particularly pronounced in countries with fewer oil reserves, prompting investors to seek safety in government bonds. |
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| Keywords: Stock market, War, Israel, Palestine |
JEL: G1 - General Financial Markets
F3 - International Finance: General |
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| Manuscript Received : Dec 28 2024 | | Manuscript Accepted : Mar 30 2025 |
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