What is it about?
This study investigates the alleged role of SSFs in destabilizing the Pakistan's stock market during GFC in 2008. The study does not find any empirical evidence.
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Why is it important?
This study is important in the context of Pakistan (an emerging economy) and international markets as a whole in explaining that futures markets do not destabilize the market. The growth of newer and innovative products in financial markets can provide much necessary liquidity and could be used as a risk management tool.
Perspectives
This is a very good study for the role of SSFs in Pakistan's market.
Dr Imran Riaz Malik
IQRA Unviersity, Islamabad
Read the Original
This page is a summary of: The Impact of SSFs on Market Efficiency and Volatility: A Dynamic CAPM Approach, Emerging Markets Finance and Trade, August 2016, Taylor & Francis,
DOI: 10.1080/1540496x.2016.1210507.
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