Modeling Turning Points in the Global Equity Market

Turning points in financial markets are often characterized by changes the direction and/or magnitude of market movements with short-to-long term impacts on investors’ decisions. A Bayesian technique is developed for turning point detection equity markets. The interconnectedness among stock returns from a piece-wise network vector autoregressive model derived. global over past two decades examined empirical application. level during Covid-19 pandemic and 2008 crisis compared. Similarities most central responsible spillover propagation emerged analysis.