TAMIU Professor Keynotes at Spanish Confab in Valencia

Texas A&M International University A. R. Sanchez, Jr. School of Business assistant professor Dr. Andrés E. Rivas recently keynoted at the Jornada de Bolsas Latinoamericanas in Valencia, Spain.

Dr. Rivas’ presentation, “International Stock Markets Linkages and Spillovers: Evidence from Latin America and Europe,” examined the response of equity markets in Brazil, Chile and Mexico to stock prices in the US, Spain and four major European countries during three sub-periods: 1988 to 1994, 1995 to 1998, and 1999 to 2008.

Rivas’ research findings varied depending upon the specific country’s openness to international trade.

“We find that there is an increasing impact of Spain on the Latin American equity markets. The increasing linkages between Spain and these three countries (such as more trade and foreign direct investment), in particular in the case of Brazil, may explain why they are affected by Spain and not by other European markets. Second, the effects of European markets are not homogeneous across Latin American markets or through time,” Rivas explained.

He noted that ties between European and Latin American markets are stronger than ever.

“In light of this, these results are particularly important for investors and policy makers, especially in those Latin American markets with increasingly stronger ties to some European markets,” he noted.
Rivas has been invited to submit his research findings for publication by the Spanish Fundación de Estudios Bursátiles y Financieros from the Bolsa de Valores de Valencia.

Rivas joined the TAMIU faculty in 2004. He holds his Ph.D. from the University of Texas-Pan American. His MBA was earned at Edgewood College, while his B.A. was received from the Universidad De Oriente in his native Venezuela. Prior to joining TAMIU, he was a lecturer at the University of Texas Brownsville and UT-Pan American.

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