Evaluation of the international Islamic capital market behavior in three periods of pre-COVID-19, COVID-19 and post-COVID-19 based on multi-fractal analysis

Ghaemi Asl, Mahdi; Nasr Esfahani, Mohammad; Mirshafiei, Elham Sadat

Volume 14, Issue 51 (5-2023) jemr 2023, 14(51): 1-31 | Back to browse issues page

‎ 20.1001.1.22286454.1402.14.51.1.6

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Ghaemi Asl M, Nasr Esfahani M, Mirshafiei E S. Evaluation of the international Islamic capital market behavior in three periods of pre-COVID-19, COVID-19 and post-COVID-19 based on multi-fractal analysis. jemr 2023; 14 (51) :1-31
URL: http://jemr.khu.ac.ir/article-1-2336-en.html

Evaluation of the international Islamic capital market behavior in three periods of pre-COVID-19, COVID-19 and post-COVID-19 based on multi-fractal analysis

Mahdi Ghaemi Asl ^*

¹, Mohammad Nasr Esfahani

, Elham Sadat Mirshafiei

1- , m.ghaemi@khu.ac.ir

Abstract: (1045 Views)

In this research, the behavior of the international Islamic capital market in the three periods before Corona, Corona and after Corona, as well as multi-fractal analysis is carried out on Sharia-compliant stock markets. Multifractal Detrended Fluctuation Analysis (MFDFA), Multiscale multi-fractal analysis (MMA), are the methods used in this study. We used the Dow Jones index data from 2011 to 2022, the variables are the emerging countries, developed countries, Asia Pacific, America and Europe. The research results shows that Corona has reduced the efficiency of all variables. In all periods, the variables are ineffective, except for the Asia variable in the pre-Corona period, developed countries and America in the post-Corona period. Also, all the variables had persistency in the Corona period. But in the pre-corona period, all the variables had an anti-persistency behavior, except for the variable of emerging countries, which had a persistence behavior, and the variable of Asia, which had a random behavior. In the post-corona period, all the variables have had an anti-persistence behavior, except for the variable of developed countries, which has had a random behavior.

Keywords: Capital market, Islamic capital market, Fossil Energy, Corona.

Full-Text [PDF 1150 kb] (116 Downloads)

Type of Study: توسعه ای | Subject: پولی و مالی
Received: 2023/11/26 | Accepted: 2024/06/12 | Published: 2024/10/23