Download or read book Inter Linkages Between Stock Exchanges written by Gagan Deep Sharma and published by . This book was released on 2017 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internationalization of capital markets gives opportunities to the investors to invest their money in the country of their choice, not just in their own country. The relationships between international stock markets have become increasingly important in recent times. This paper studies the inter-linkages between stock markets of Brazil, Russia, India, and China. Daily closing levels of the benchmark indices in the three countries are taken for a period of 1 April 2005 to 31 March 2010. While line charts, co integration and unit-root test are applied to check the stationary nature of the series; Granger's causality model, Vector Auto Regression (VAR) model and Variance Decomposition Analysis are performed to find out the linkages between the markets under study. The VAR models also confirm the results of Granger's Causality model.

Download or read book Anatomy of Global Stock Market Crashes written by Gagari Chakrabarti and published by Springer Science & Business Media. This book was released on 2012-01-05 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is an exploration of the global market dynamics, their intrinsic natures, common trends and dynamic interlinkages during the stock market crises over the last twelve years. The study isolates different phases of crisis and differentiates between any crisis that remains confined to the region and those that take up a global dimension. The latent structure of the global stock market, the inter-regional and intra-regional stock market dynamics around the crises are analyzed to get a complete picture of the structure of the global stock market. The study further probing into the inherent nature of the global stock market in generating crisis finds the global market to be chaotic thus making the system intrinsically unstable or at best to follow knife-edge stability. The findings have significant bearing at theoretical level and on policy decisions.

Download or read book An Empirical Examination of the Inter Linkages between African Stock Markets written by Sam Agyei-Ampomah and published by . This book was released on 2008 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the nature and extent of inter-linkages between African stock markets and the relationships between these markets and that of the regional and global indices. We present evidence to show that African stock markets are still segmented from global markets. We also find evidence of time varying integration to the global market but the level integration rather diminishes over time. In addition, we find that a large part of the total volatility of the domestic index appears largely country-specific which can be diversified away by cross-country diversification.

Download or read book The Work of the Stock Exchange written by James Edward Meeker and published by . This book was released on 1922 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Are the Stock Exchanges of Emerging Economies Inter Linked written by Gagan Deep Sharma and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the interlinkages between stock markets of Brazil, Russia, India, China and South Africa (BRICS) with the help of benchmark indices of these stock exchanges. Daily closing levels of the benchmark indices in the five countries were taken for a period from April 1, 2005 to March 31, 2010. Line charts and unit-root tests were applied to check the stationary nature of the series; Regression Analysis, Granger's Causality Model, Vector Auto Regression (VAR) Model, and Variance Decomposition Analysis were performed to find out the linkages between the markets under study. The analysis revealed that the stock markets under study were influenced by each other, but not to a great extent. It implies that there exists opportunities for diversification of the investors among the stock exchanges of BRICS. The paper also observed that there are domestic factors (macro-economic variables) that influence the stock markets.

Download or read book The Philadelphia Stock Exchange and the City It Made written by Domenic Vitiello and published by University of Pennsylvania Press. This book was released on 2010-04-14 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Philadelphia Stock Exchange and the City It Made recounts the history of America's first stock exchange and the ways it shaped the growth and decline of the city around it. Founded in 1790, the Philadelphia Stock Exchange, its member firms, and the companies they financed had profound impacts on the city's place in the world economy. At its start, the exchange and its members helped spur the development of the early United States, its financial sector, and its westward expansion. During the nineteenth century, they invested in making Philadelphia the center of industrial America, raising capital for the railroads and coal mines that connected cities to one another and built a fossil fuel-based economy. After financing the Civil War, they underwrote the growth of the modern metropolis, its transportation infrastructure, utility systems, and real estate development. At the turn of the twentieth century, stagnation of the exchange contributed to Philadelphia's loss of power in the national and world economy. This original interpretation of the roots of deindustrialization holds important lessons for other cities that have declined. The exchange's revival following World War II is a remarkable story, but it also illustrates the limits of economic development in postindustrial cities. Unlike earlier eras, the exchange's fortunes diverged from those of the city around it. Ultimately, it became part of a larger, global institution when it merged with NASDAQ in 2008. Far more than a history of a single institution, The Philadelphia Stock Exchange and the City It Made traces the evolving relationship between the exchange and the city. For people concerned with cities and their development, this study offers a long-term history of the public-private partnerships and private sector-led urban development popular today. More generally, it traces the networks of firms and institutions revealed by the securities market and its participants. Herein lies a critical and understudied part of the history of metropolitan economic development.

Download or read book Stock Market Interlinkages in Emerging Markets written by Ayaz Ahmed and published by . This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Bilateral Linkages Between the U S Stock Market and Six National Stock Markets in the First and the Second Order Moments written by Liu Yuan Tang and published by . This book was released on 2008 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Integration of Equity Markets and Contagion Effects written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1995-11-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Modeling Evolving Long run Relationships written by José L. Fernández-Serrano and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Inter Linkages Between Stock Markets Having Portfolio Investment in Pakistan written by Rameez Tariq and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the short term and long term co-movement of Pakistani equity market and equity markets of Developed and Developing counties having portfolio investment in Pakistan which includes Australia, Canada, France, Germany, Japan, Norway, Netherland, UK, USA, China, India, Korea, Kuwait, Singapore, Saudi Arabia, UAE, Qatar and Hong Kong by using monthly time series data starting from July 2003 to June 2012. Multivariate Co-integration approach by Johnson and Julius (1990) shows that there exists long-term relationship between developed, developing and Pakistani equity markets. Pair-wise Granger Causality test shows that there exist both unidirectional and bidirectional causality between the equity market of Pakistan and the other developed and developing country's stock markets. Impulse response analysis and variance decomposition analysis reveal that most of the shocks in Pakistani equity markets are due to its own innovation and behave like exogenous. Therefore, by investing in Karachi Stock Exchange (KSE) the fund manager of developed and developing countries especially Australia, Canada, France, Netherland, UK, China, Hong Kong, Kuwait and Korea is capable of getting the advantage of portfolio diversification.

Download or read book The Linkages Between National Stock Markets written by Gökçe Soydemir and published by . This book was released on 1997 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Return Linkages Among Returns from Stock Markets written by Gagan Deep Sharma and published by . This book was released on 2015 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies inter-linkages among returns from stock markets in Japan, USA, England, India and China. Daily closing levels of benchmark indices in five countries are taken for period 6th January 2003 to 21st September 2013. Augmented Dickey-Fuller unit-root test is applied to check stationary nature of the series; Regression analysis, Granger's causality model, Vector Auto Regression model, and Variance Decomposition Analysis to find out the linkages between returns. The study leads to two major findings. First, that there exist opportunities for diversification for the investors, and second is the domestic factors (macro economic variables) that influence stock markets.

Download or read book Intra Market Linkages Among Civets Stock Markets written by Kashif Saleem and published by . This book was released on 2014 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper utilizes the multivariate GARCH framework of Engle and Kroner (1995) to examine the return and volatility spillovers among a new group of six frontier markets called 'CIVETS'. These markets are considered to be the future hosts of investments due to their huge potential and abundance of resources. The analysis of weekly stock market return series revealed that these markets have significant return and volatility spillovers among each other. These findings suggest that the portfolio investors who invest in emerging and frontier markets for better returns should take into account the correlation of risk and returns among CIVETS stock markets. The diversification benefits should be assessed keeping in view the extent of inter-market linkages of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.

Download or read book Intra and Inter Regional Causal Linkages of Emerging Stock Markets written by Eiji Fujii and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the causal linkages among several emerging stock markets in Asia and Latin America since 1990. These markets experienced both rapid growth and major upheaval during the sample period, and thus, provide potentially rich information on the nature of cross-market interactions. Using daily observations of stock indices and the GARCH family of econometric models, we conduct the residual cross-correlation function tests to investigate cross-market causality both in the first and second moments of the stock returns. The empirical results reveal significant causal linkages both within each region and across the two regions. Further, our rolling test results indicate that the significance of the causality varies considerably over time. Importantly, we find that the causal linkages tend to strengthen particularly at the time of major financial crises. The empirical results also point to some imperative issues including inter-regional asymmetry in the causality and persistence of shocks on market linkages.

Download or read book Handbook of Research on Stock Market Globalization written by Geoffrey Poitras and published by Edward Elgar Pub. This book was released on 2012 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stock market globalization process has produced historic changes in the structure of stock markets, the effects of which are evident throughout the world. Despite these transformations, there are relatively few sources examining the connections between the globalization process currently under way and previous periods of stock market globalization. This seminal volume fills that gap.

Download or read book The Stock Market written by Donna Jo Fuller and published by Lerner Publications. This book was released on 2005-09-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: A simple introduction to stocks and the stock market.