Stock Market Integration And The Pricing For Regionalism
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Author | : Chee Wooi Hooy |
Publisher | : |
Total Pages | : 132 |
Release | : 2010 |
Genre | : International economic integration |
ISBN | : |
Download Stock Market Integration and the Pricing for Regionalism Book in PDF, Epub and Kindle
Author | : Richard Baldwin |
Publisher | : Cambridge University Press |
Total Pages | : 368 |
Release | : 1999-08-26 |
Genre | : Business & Economics |
ISBN | : 9780521645898 |
Download Market Integration, Regionalism and the Global Economy Book in PDF, Epub and Kindle
Demonstrates how new techniques of economic analysis can be used to study the process of regional integration.
Author | : Robert A. Korajczyk |
Publisher | : World Bank Publications |
Total Pages | : 48 |
Release | : 1995 |
Genre | : Aktiemarkeder |
ISBN | : |
Download A Measure of Stock Market Integration for Developed and Emerging Markets Book in PDF, Epub and Kindle
Author | : Sabur Mollah |
Publisher | : Springer |
Total Pages | : 172 |
Release | : 2016-02-10 |
Genre | : Business & Economics |
ISBN | : 1137367547 |
Download Global Stock Market Integration Book in PDF, Epub and Kindle
Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.
Author | : Richard Heaney |
Publisher | : |
Total Pages | : 24 |
Release | : 2008 |
Genre | : |
ISBN | : |
Download Regional Integration of Stock Markets in Latin America Book in PDF, Epub and Kindle
This paper examines the trend towards regionalism upon stock market returns in Latin America. Average correlations with other countries in the region and with the world suggest that the Latin American stock markets have become more regionally integrated over the study period. This finding reflects the growing cooperation between Latin American countries since liberalisation in the early 1990s. Prior to liberalisation, Latin American stock market returns showed greater association with the more developed markets, particularly the USA, than with their closest neighbour. This may have been due to the high dependence upon debt from these developed countries. Analysis highlights the importance of stock market data in helping researchers understand and monitor the regional integration process in Latin America.
Author | : Maurice Obstfeld |
Publisher | : Cambridge University Press |
Total Pages | : 386 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : 9780521671798 |
Download Global Capital Markets Book in PDF, Epub and Kindle
This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Author | : Scott McCleskey |
Publisher | : Butterworth-Heinemann |
Total Pages | : 184 |
Release | : 2004-01-02 |
Genre | : Business & Economics |
ISBN | : 9780750657457 |
Download Achieving Market Integration Book in PDF, Epub and Kindle
Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.
Author | : C Justin Robinson |
Publisher | : |
Total Pages | : 15 |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Aspects of the Caribbean Single Market & Economy Book in PDF, Epub and Kindle
This study investigates the degree of integration among stock markets in the Caribbean Single Market area by analyzing the pricing of cross listed stocks within the region. The results show that the law of one price is generally violated for cross-listed stocks and there is little integration among the stock markets. It also suggests that there are arbitrage opportunities for investors. This result is in contrast to the experience of other regions of the world that have sought to integrate their stock markets. Empirical studies of European markets generally confirm that the “law of one price” holds across markets with regard to multiple listed stocks.
Author | : Mr.Paul Cashin |
Publisher | : International Monetary Fund |
Total Pages | : 58 |
Release | : 1995-11-01 |
Genre | : Business & Economics |
ISBN | : 1451853289 |
Download International Integration of Equity Markets and Contagion Effects Book in PDF, Epub and Kindle
This paper investigates empirically the degree of international integration of industrial and emerging country equity markets. It analyzes two issues: first, the extent to which equity prices have tended to move similarly across countries and regions in the long run; and second, the strength of cross-country “contagion” effects. The paper’s findings suggest that both intra-regional and inter-regional linkages across national equity markets have strengthened in recent years. In addition, using impulse response functions, the paper shows that cross-country contagion effects of country-specific shocks dissipate in a matter of weeks while contagion effects of global shocks take several months to unwind themselves.
Author | : A. Robert Korajczyk |
Publisher | : |
Total Pages | : |
Release | : 1999 |
Genre | : |
ISBN | : |
Download A Measure of Stock Market Integration for Developed and Emerging Markets Book in PDF, Epub and Kindle
June 1995 Along several dimensions, a measure of the financial integration of equity markets yields results consistent with prior assumptions about the relationship between effective integration, explicit capital controls, capital market development, and economic growth. If equity markets are financially integrated, the price of risk should be the same across markets. If the markets are not financially integrated--possibly because of barriers to capital flows across markets--the price of risk may differ across markets. Korajczyk investigates one measure of financial integration between equity markets. He uses a multifactor equilibrium Arbitrage Pricing Theory to define risk and to measure deviations from the law of one price. He applies the integration measure to equities traded in 24 countries (four developed, and 20 emerging). The measure of market segmentation tends to be much larger for emerging markets than for developed markets, which is consistent with larger barriers to capital flows into or out of the emerging markets. The measure tends to decrease over time, which is consistent with growing levels of integration. Large values of adjusted mispricing occur around periods of economic turbulence and periods in which capital controls change significantly. So, the adjusted mispricing estimates measure not only the level of deviation from the law of one price, but also the revaluations inherent in moving from one regime to another. This paper--a product of the Finance and Private Sector Development Division, Policy Research Department--is part of a larger effort in the department to study stock market development. The study was funded by the Bank's Research Support Budget under the research project Stock Market Development and Financial Intermediary Growth (RPO 678-37).