Liquidity dynamics between virtual and equity markets

Huang, Sherena S.

dc.contributor.author	Huang, Sherena S.
dc.date.accessioned	2023-12-28T10:47:16Z
dc.date.accessioned	2024-01-19T15:08:41Z
dc.date.available	2023-12-28T10:47:16Z
dc.date.available	2024-01-19T15:08:41Z
dc.date.issued	2024-03
dc.identifier.citation	Huang SS (2023) Liquidity dynamics between virtual and equity markets. Journal of International Financial Markets, Institutions and Money. 91: 101917.	en_US
dc.identifier.uri	http://hdl.handle.net/10454/19767
dc.description	Yes
dc.description.abstract	This paper estimates liquidity dynamics between virtual and real assets from multiple dimensions, namely market capacity, transaction cost and market efficiency. The data covers transaction information of crypto markets and four equity exchanges (US, UK, EU and Japan) between January 2019 and December 2022. The first result shows a two-way liquidity risk feedback loop between virtual and real markets, and the second result confirms dynamic liquidity interactions between them. The US market is identified as a transmitter rather than a receiver of liquidity risk but may not escape cumulative liquidity shocks.	en_US
dc.language.iso	en	en_US
dc.rights	© 2023 The Author. Published by Elsevier B.V. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).	en_US
dc.subject	Crypto asset
dc.subject	Cryptocurrency
dc.subject	Systemic risk
dc.subject	Global market
dc.subject	Financial stability
dc.subject	Monetary policy
dc.title	Liquidity dynamics between virtual and equity markets	en_US
dc.status.refereed	Yes
dc.date.application	23/12/2023
dc.type	Article
dc.type.version	Published version
dc.identifier.doi	https://doi.org/10.1016/j.intfin.2023.101917
dc.rights.license	CC-BY-NC	en_US
dc.date.updated	2023-12-28T10:47:18Z
refterms.dateFOA	2024-01-19T15:09:12Z
dc.openaccess.status	openAccess
dc.date.accepted	23/12/2023