Resumo

MORALES LEON, Nicolás  e  VELEZ MOLANO, José Rodrigo. Structural changes in the mila stock markets indicators between 2008 and 2018. Semest. Econ. [online]. 2020, vol.23, n.54, pp.21-44.  Epub 30-Jul-2020. ISSN 0120-6346.  https://doi.org/10.22395/seec.v23n54a2.

This article identifies the possible dates for structural changes in stock markets conforming the MILA and its possible pioneers. Through classic stability testing and a robust statistic for models with heteroscedasticity, this research performs a comparison between both methodologies in daily time- series of returns and a percentage change in the volume of stock indicators. For the return models, the structural change dates coincide with international scope events in Europe and the United States, whilst for the percentage variation of volume models, dates are aligned with the performance of the local economy.

JEL CLASSIFICATION: C22, E44, C15

CONTENT: Introduction; 1. Reference framework; 2. Methodology; 3. Results; 4. Conclusions; bibliography.

Palavras-chave : Structural change; stock markets and macroeconomics; bootstrap.

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