The Japanese Economy in Crises: A Time Series Segmentation Study
Abstract: The authors performed a comprehensive time series segmentation study on the 36 Nikkei Japanese industry indices from 1 January 1996 to 11 June 2010. From the temporal distributions of the clustered segments, we found that the Japanese economy never fully recovered from the extended 1997–2003 crisis, and responded to the most recent global financial crisis in five stages. Of these, the second and main stage affecting 21 industries lasted only 27 days, in contrast to the two-and-a-half-years acrossthe- board recovery from the 1997–2003 financial crisis. We constructed the minimum spanning trees (MSTs) to visualize the Pearson cross correlations between Japanese industries over five macroeconomic periods: (i) 1997–1999 (Asian Financial Crisis), (ii) 2000–2002 (Technology Bubble Crisis), (iii) 2003–2006 (economic growth), (iv) 2007–2008 (Subprime Crisis), and (v) 2008–2010 (Lehman Brothers Crisis). In these MSTs, the Chemicals and Electric Machinery industries are consistently hubs. Finally, we present evidence from the segment-to-segment MSTs for flights to quality within the Japanese stock market.
- Standort
-
Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
-
Online-Ressource
- Sprache
-
Englisch
- Erschienen in
-
The Japanese Economy in Crises: A Time Series Segmentation Study ; volume:6 ; number:1 ; year:2012 ; extent:83
Economics / Journal articles. Journal articles ; 6, Heft 1 (2012) (gesamt 83)
- Urheber
-
Cheong, Siew Ann
Fornia, Robert Paulo
Lee, Gladys Hui Ting
Kok, Jun Liang
Yim, Woei Shyr
Xu, Danny Yuan
Zhang, Yiting
- DOI
-
10.5018/economics-ejournal.ja.2012-5
- URN
-
urn:nbn:de:101:1-2412121808048.923131518745
- Rechteinformation
-
Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
-
15.08.20252025, 07:22 MESZ
Datenpartner
Deutsche Nationalbibliothek. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Beteiligte
- Cheong, Siew Ann
- Fornia, Robert Paulo
- Lee, Gladys Hui Ting
- Kok, Jun Liang
- Yim, Woei Shyr
- Xu, Danny Yuan
- Zhang, Yiting
Ähnliche Objekte (12)
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises : A time series segmentation study
The Japanese economy in crises : A time series segmentation study
Political Economy of Globalization: Financialization & Crises
Performance of Japanese economy
Sustainable market economy : welfare without self-made crises?
The Japanese economy and its problems
ClaSP: parameter-free time series segmentation
Crises of capitalism : a different study of political economy
Political economy of Japanese and Asian development
Revitalizing the Japanese economy by socializing risk
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises : A time series segmentation study
The Japanese economy in crises : A time series segmentation study
Political Economy of Globalization: Financialization & Crises
Performance of Japanese economy
Sustainable market economy : welfare without self-made crises?
The Japanese economy and its problems
ClaSP: parameter-free time series segmentation
Crises of capitalism : a different study of political economy
Political economy of Japanese and Asian development
Revitalizing the Japanese economy by socializing risk
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises: A time series segmentation study
The Japanese economy in crises : A time series segmentation study
The Japanese economy in crises : A time series segmentation study
Political Economy of Globalization: Financialization & Crises
Performance of Japanese economy
Sustainable market economy : welfare without self-made crises?
The Japanese economy and its problems
ClaSP: parameter-free time series segmentation
Crises of capitalism : a different study of political economy
Political economy of Japanese and Asian development