<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0121-4772</journal-id>
<journal-title><![CDATA[Cuadernos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Econ.]]></abbrev-journal-title>
<issn>0121-4772</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-47722022000200457</article-id>
<article-id pub-id-type="doi">10.15446/cuad.econ.v41n87.89520</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[EFEITO CAUSAL ENTRE O INDICADOR DE BOLSA DE VALORES IBOVESPA E OS INDICADORES SHANGAI, S&amp;P500, MERVAL E NIKKEI]]></article-title>
<article-title xml:lang="es"><![CDATA[Efecto causal entre el indicador de bolsa de valores Ibovespa y los indicadores Shanghai, S&amp;P500, Merval y Nikkei]]></article-title>
<article-title xml:lang="en"><![CDATA[Causal effect between the Ibovespa stock market and Shanghai, S&amp;P500, Merval and Nikkei indicators]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Sánchez Arévalo]]></surname>
<given-names><![CDATA[Jorge Luis]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreira de Sousa]]></surname>
<given-names><![CDATA[Gabriela]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Malta Meurer]]></surname>
<given-names><![CDATA[Rodrigo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidade Federal de Mato Grosso do Sul  ]]></institution>
<addr-line><![CDATA[Campo Grande-MS ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidade Federal de Mato Grosso do Sul  ]]></institution>
<addr-line><![CDATA[Campo Grande-MS ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidade Federal de Mato Grosso do Sul  ]]></institution>
<addr-line><![CDATA[Campo Grande-MS ]]></addr-line>
<country>Brazil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<volume>41</volume>
<numero>87</numero>
<fpage>457</fpage>
<lpage>479</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-47722022000200457&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-47722022000200457&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-47722022000200457&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo O estudo analisa a relação de causalidade entre o indicador bursátil brasileiro em relação a outros indicadores de bolsa de valores. Especificamente, o tempo de estudo incorpora a crise mundial causada pela covid-19 e a guerra pelo preço do petróleo. Utilizaram-se as séries diferenciadas, considerando a existência de raiz unitária; posteriormente, realizou-se a estimação do modelo VAR e a causalidade de Granger. Nos resultados, verifica-se que a causalidade entre o Ibovespa com o S&amp;P500 e o Nikkei é bidirecional. Esses resultados são consistentes ao relacionar o grau de intercâmbio comercial e de origem do investimento estrangeiro no Brasil.  JEL: F21, F37, G15, G17.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En este artículo se analiza la relación causal entre el indicador de bolsa de valores de Brasil con relación a otros indicadores. El tiempo de estudio incorpora la crisis mundial causada por la COVID-19 y la guerra por el precio del petróleo. Se utilizaron series diferenciadas considerando la existencia de una raíz unitaria; luego se estimó la causalidad de Granger a partir de un VAR. Se verifica que la causalidad entre el Ibovespa con el S&amp;P500 y el Nikkei es bidireccional. Estos resultados son consistentes al relacionar el grado de intercambio comercial y el origen de la inversión extranjera en Brasil.  JEL: F21, F37, G15, G17.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper analyzes the causal relationship between the Brazilian stock market indicator and other stock exchange indicators. Specifically, the study time incorporates the world crisis caused by the covid-19 and the war over the price of oil. Were used the differentiated series considering the existence of a unit root, the VAR and Granger Causality models were subsequently estimated. The results show that the causality between the Ibovespa with the S&amp;P500 and Nikkei is bidirectional. These results are consistent when relating the degree of commercial exchange and the origin of foreign investment in Brazil.  JEL: F21, F37, G15, G17.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[séries temporais]]></kwd>
<kwd lng="pt"><![CDATA[causalidade de Granger]]></kwd>
<kwd lng="pt"><![CDATA[bolsas de valores]]></kwd>
<kwd lng="pt"><![CDATA[fluxo de comércio]]></kwd>
<kwd lng="pt"><![CDATA[Brasil]]></kwd>
<kwd lng="es"><![CDATA[series temporales]]></kwd>
<kwd lng="es"><![CDATA[causalidad de Granger]]></kwd>
<kwd lng="es"><![CDATA[bolsas de valores]]></kwd>
<kwd lng="es"><![CDATA[flujo comercial]]></kwd>
<kwd lng="es"><![CDATA[Brasil]]></kwd>
<kwd lng="en"><![CDATA[Time series]]></kwd>
<kwd lng="en"><![CDATA[Granger's Causality]]></kwd>
<kwd lng="en"><![CDATA[stock exchanges]]></kwd>
<kwd lng="en"><![CDATA[trade flow]]></kwd>
<kwd lng="en"><![CDATA[Brazil]]></kwd>
</kwd-group>
</article-meta>
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<surname><![CDATA[Zhao]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Serieux]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Globalization, regionalization and convergence in East Asia]]></article-title>
<source><![CDATA[The Journal of International Trade &amp; Economic Development]]></source>
<year>2018</year>
<volume>28</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>486-507</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
