Economic policy uncertainty and stock prices in BRIC countries: evidence from asymmetric frequency domain causality approach

Purpose The aim of this study is to investigate the relationship between economic policy uncertainty (EPU) and stock prices during period from March 2003 2021. Design/methodology/approach uses asymmetric symmetric frequency domain causality tests focuses on BRIC countries, namely, Brazil, Russia, India China. Findings findings test confirm unidirectional permanent EPU for Brazil bidirectional However, according test, China show that there no variables. results indicate positive components prices. Moreover, temporary negative For India, in opposite direction. Originality/value reactions financial markets shocks differ. In context, best authors’ knowledge, first attempt examine causal relationships using an approach. Thus, enables analysis effects market separately.