Time-varying world market integration

Article Abstract:

We propose a measure of capital market integration arising from a conditional regime-switching model. Our measure allows us to describe expected returns in countries that are segmented from world capital markets n one part of the sample and become integrated later in the sample. We find that a number of emerging market exhibit time-varying integration. Some markets appear more integrated than one might expect based on prior knowledge of investment restrictions. Other markets appear segmented even though foreigners have relatively free access to their capital markets. While there is perception that world capital markets have become more integrated, our country-specific investigation suggests that this is not always the case. (Reprinted by permission of the publisher.)

Capital market, Capital markets

---

Stock market liberalization, economic reform, and emerging market equity prices

Article Abstract:

Research presented concerns the economic impact of stock market liberalization, or a country's policy to allow foreign purchasing of stocks. Findings suggest that the country that liberalizes it's stock market can lower the cost of equity capital by promoting risk-sharing between foreign and domestic agents.

Finance, Stock-exchange, Stock exchanges

---

Foreign speculators and emerging equity markets

Article Abstract:

Issues discussed concern the impact of foreign speculators on emerging equity markets in countries undergoing market liberalization. Topics addressed include equity capital flows to emerging markets, market volatility, and measuring the cost of capital.

Speculation, Capital movements

Similar abstracts:

• Abstracts: Weathering the interest rate storms. The real worry on Wall Street. The interest rate red herring
• Abstracts: Listening for viral infection. Vaccinia's interactions. Expanding the AAV package
• Abstracts: Factors influencing wealth creation from mergers and acquisitions: a meta-analysis. The influence of voluntarily disclosed qualitative information
• Abstracts: Discovering the joy of compound interest. Calculating volatility - the Black-Scholes model
• Abstracts: Planning for the next generation. Adding Euro flash to a portfolio. A financial education

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.