Download or read book Global Stock Market Integration written by Sabur Mollah and published by Palgrave Macmillan. This book was released on 2015-11-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Download or read book Achieving Market Integration written by Scott McCleskey and published by Butterworth-Heinemann. This book was released on 2004-01-02 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Measure of Stock Market Integration for Developed and Emerging Markets written by Robert A. Korajczyk and published by World Bank Publications. This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Rise in Comovement Across National Stock Markets written by Robin Brooks and published by International Monetary Fund. This book was released on 2002-09 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The degree of comovement across national stock markets has increased dramatically since the mid-1990s. This has overturned a stylized fact in the international portfolio diversification literature that diversifying across countries is more effective for risk reduction than diversifying across industries. We investigate if this rise in comovement is a permanent phenomenon driven by greater economic and financial integration, or a temporary effect associated with the recent stock market bubble. At the global level, our results point to the bubble. At a regional level, we find evidence of a significant rise in market integration within Europe, possibly a reflection of institutional changes such as the EMU.
Download or read book Global Stock Market Integration written by Sabur Mollah and published by Springer. This book was released on 2016-02-10 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Stock Market Integration written by E. Dorodnykh and published by Springer. This book was released on 2013-11-04 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an original approach to the determinants of stock exchange integration. With case studies of successful integration projects in Europe, North America, Latin America as well as intercontinental cross-border mergers, it provides a complete analysis of all existing integration projects between stock exchange markets.
Download or read book Global Stock Market Integration written by Sabur Mollah and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers an in-depth critical analysis of existing literature and empirically investigates and presents a detailed comparison between developed and emerging markets in terms of integration, efficiency, and causality during crisis.
Download or read book International Financial Market Integration written by Stanley R. Stansell and published by Wiley-Blackwell. This book was released on 1993-01-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid growth of international financial markets and their increasing integration has created a unique set of problems in the understanding of international finance. This important new book surveys the many aspects of financial market integration. The markets examined range from those of developed countries such as the US, Japan, and European countries to less developed countries. A section on the emerging markets in the CIS and Baltic States has also been included. Areas covered include capital market segmentation, an examination of the US, Hong Kong, and Singapore markets, the foreign and domestic balance sheet strategies of US banks, international financial market integration and commercial banks, the European monetary system, international integration of the CIS and Baltic States emanating from the USSR, an overview of Japanese finance, international transmission of stock market movements, and international capital markets. International Financial Market Integration is a comprehensive and valuable reference for academics, graduate students, and researchers in international finance.
Download or read book Global Stock Markets and Portfolio Management written by S. Motamen-Samadian and published by Springer. This book was released on 2006-04-12 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest empirical findings on stock markets in a number of emerging markets. The authors employ the latest techniques and provide valuable insights into each market, highlighting global integration, their potential for profitable investments and features that will be influential in global portfolio decision-making.
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 The Integration of World Capital Markets written by Mr.Michael Mussa and published by International Monetary Fund. This book was released on 1993-12-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Download or read book International Financial Integration written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 2003-04-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns.
Download or read book Stock Market Integration and the Pricing for Regionalism written by Chee Wooi Hooy and published by . This book was released on 2010 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stock Markets in Islamic Countries written by Shaista Arshad and published by Springer. This book was released on 2016-12-22 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the volatility, efficiency and integration of stock markets in Islamic countries. It presents recent trends, growth and performance, before moving on to explore how patterns change during different business cycles for short-term and long-term investors, and ranks the efficiency of the various markets. It addresses how the level of market integration has been affected during different economic periods, and concludes by summarising the performance of the stock markets, suggesting potential future directions for these markets.
Download or read book World Market Integration Through the Lens of Foreign Direct Investors written by Luis Serven and published by World Bank Publications. This book was released on 2003 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Albuquerque, Loayza, and Serven analyze the unparalleled increase in foreign direct investment to emerging market economies in the past 25 years. Using a large cross-country timeseries data set, the authors evaluate the dependence of foreign direct investment on global factors or worldwide sources of risk (that is, factors that drive foreign direct investment across several countries). They construct a globalization measure that equals the share of explained variation in direct investment attributable to global factors. The authors show that the globalization measure has increased steadily for industrial and developing countries. For the full sample of countries, the globalization measure rose eightfold from 1985 to 1999. Furthermore, in recent years developing countries' exposure to global factors has approached that of industrial countries, particularly for Latin America. Finally, the globalization measure correlates strongly with measures of capital market liberalization. Overall, the authors find strong support for the hypothesis of increased market integration which implies a greater role for worldwide sources of risk. They discuss the implications of the results for public policies regarding capital market liberalization and policies directed at attracting foreign investment.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand international capital flows.
Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
