Abstract

DUARTE DUARTEA, Juan Benjamín; GARCES CARRENOB, Laura Daniela  and  SIERRA SUAREZC, Katherine Julieth. An analysis of herd behavior in Latin American stock markets. ecos.econ. [online]. 2016, vol.20, n.42, pp.4-18. ISSN 1657-4206.  https://doi.org/10.17230/ecos.2015.42.1.

This research investigates whether the major stock markets in Latin America (Brazil, Mexico, Chile, Colombia, Peru and Argentina) exhibited herd behavior over the period January 2, 2002 to June 30, 2014, using the variation in the returns overall and by sector in the most representative stock market index in each country, using the model proposed by Christie y Huang (1995). The results do not reveal any herd behavior in the total market, or in the sectors of the markets examined in the study.

Keywords : Herd Behavior; Latin America Stock Markets; Variation in Retu.

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