The selected local and global financial factors
| Variables | Local/Global | Indictor | Data source |
|---|---|---|---|
| Credit default swaps | Local variable | CDS_ret | DataStream |
| 10-year bond yields | Local variable | BONDY_ret | investing.com |
| Exchange rates | Local variable | E/R_ret | investing.com |
| US credit default swap | Global variable | USCDS_ret | investing.com |
| The MSCI World Index | Global variable | MSCIW_ret | investing.com |
| Volatility index | Global variable | VIX_ret | investing.com |
| Oil volatility index | Global variable | OVX_ret | investing.com |
| Variables | Local/Global | Indictor | Data source |
|---|---|---|---|
| Credit default swaps | Local variable | CDS_ret | DataStream |
| 10-year bond yields | Local variable | BONDY_ret | investing.com |
| Exchange rates | Local variable | E/R_ret | investing.com |
| US credit default swap | Global variable | USCDS_ret | investing.com |
| The MSCI World Index | Global variable | MSCIW_ret | investing.com |
| Volatility index | Global variable | VIX_ret | investing.com |
| Oil volatility index | Global variable | OVX_ret | investing.com |
Note(s): The local and global financial factors we have used in our study is given above
Source(s): Created by the authors
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