Download or read book Thai Stock Market in the Context of Global Stock Market Integration written by Surachai Chancharat and published by LAP Lambert Academic Publishing. This book was released on 2011-04 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an econometric analysis of the Thai stock market in the context of global stock market integration. Chapter 2 presents a comprehensive review on stock market integration. Chapter 3 examines whether stock prices for 16 countries are trend stationary or follow a random walk process using. Chapter 4 investigates the existence of cointegration and causality between the stock market price indices of Thailand and its major trading partners. The Gregory and Hansen (1996) test provide no evidence of a long-run relationship between the stock prices of Thailand and these countries. Chapter 5 explores the relationships between stock market returns of 13 countries. Factor analysis provides evidence that stock returns in a number of Asian countries are highly correlated and, based on the resulting robust factor loadings; they form the first well-defined common factor. Chapter 6 analyzes how 15 international stock markets and five key Thai macroeconomic variables influenced stock returns in Thailand. The results indicate that the Singapore stock market influenced the Thai stock market significantly in both the pre- and post-1997 periods.
Download or read book An Econometric Analysis of Thai Stock Market in the Context of Global Stock Market Integration written by Surachai Chancharat and published by . This book was released on 2008 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stock Market Integration and Portfolio Diversifications in the ASEAN Economic Community AEC written by Yuthana Sethapramote and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper has two objectives. First, we examine the dynamic patterns of interdependence among six stock markets in the ASEAN Economic Community (AEC). The Dynamic Conditional Correlation (DCC) - GARCH model is used to generate time-varying cross-country correlations in stock returns. The results exhibit the time-varying behavior in both conditional variances and correlations. In addition, these cross-country conditional correlations are increasing over time in every case. Second, we investigate benefits of international portfolio diversification in ASEAN Exchange from a Thai perspective. The results show that performance of international diversify portfolios could vary over time. However, ability of the DCC-GARCH model to quickly update information on impact of market volatility could provides better information in optimization process. As a result, overall performance of portfolios using conditional correlation generated by the DCC-GARCH model is significantly better than simple portfolio with moving-average correlation. Therefore, financial liberalization process under the AEC framework provided an opportunity for a Thai investor to extract gain from international diversification.
Download or read book The Influence of International Stock Markets and Macroeconomic Variables on the Thai Stock Market written by Surachai Chancharat and published by . This book was released on 2008 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the impact of several stock market price indices and macroeconomic variables on the Thai stock market, using a GARCH-M model and monthly data (1988M1-2004M12). We find that (a) changes in returns in Singapore, Malaysia and Indonesia before the 1997 crisis, and changes in Singapore, the Philippines and Korea after 1997 instantaneously influenced returns in the Thai stock market; (b) changes in oil prices negatively impacted on it only prior to 1997; (c) volatility clustering and a GARCH-M model were present only before 1997; and (d) markets outside the region had no immediate impact on the Thai market.
Download or read book The Interplay Between the Thai and Several Other International Stock Markets written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Interdependence Among Equity Markets in the Asia Pacific Region Focus on Australia and ASEAN written by Eduardo D Roca and published by Routledge. This book was released on 2018-01-18 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2000: An investigation of the issue of financial markets interdependence or integration through the application of recently developed and powerful techniques in time series econometrics. The text provides coverage of theoretical analysis and applications in the context of the Asia-Pacific region.
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 Asia s Stock Markets written by Mr.Fabian Lipinsky and published by International Monetary Fund. This book was released on 2014-02-26 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region’s markets are reputed to be more “idiosyncratic” and less reliant on economic and corporate fundamentals in their pricing. Using a model that draws on international asset pricing and economic theory, as well as accounting literature, we find evidence of greater idiosyncratic influences in the pricing of Asia’s stock markets, compared to their G-7 counterparts, beyond the identified systematic factors and local fundamentals. We also show proof of a significant relationship between the strength of implementation of securities regulations and the “noise” in stock pricing, which suggests that improvements in the regulation of securities markets in Asia could enhance the role of stock markets as stable and reliable sources of financing into the future.
Download or read book China Stock Market Handbook written by jshop.javvin.com and published by Javvin Technologies Inc.. This book was released on 2008 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is designed to help investors and financial professionals understand how China's stock market operates, and to harness their power to win more. It includes fundamental information of both the mainland China and Hong Kong markets.
Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Download or read book Annual World Bank Conference on Development Economics 1998 written by Boris Pleskovic and published by World Bank Publications. This book was released on 1999 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1998 Annual World Bank Conference on Development Economics, the tenth anniversary, was held at the Bank on April 20-21, 1998. The discussions focused on four areas of inquiry:1) the role of geography in countries'success, 2) the role of effective competition and regulatory policies, 3) the causes of financial crises and ways to prevent them, and 4) the effects of ethnic diversity on democracy and growth. The welcoming address by World Bank President James D. Wolfensohn, the opening remarks by chief Economist Joseph Stiglitz, and the tenth anniversary address by the International Monetary Fund Deputy Managing Director Stanley Fischer all focused both on the role of the conference and on the changing perspectives for development.
Download or read book Drivers of Financial Integration Implications for Asia written by Nasha Ananchotikul and published by International Monetary Fund. This book was released on 2015-07-17 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deeper intraregional financial integration is prominent on Asian policymakers’ agenda. This paper takes stock of Asia’s progress toward that objective, analyzing recent trends in cross-border portfolio investment and bank claims. Then, it investigates the drivers of financial integration by estimating a gravity model of bilateral financial asset holdings on a large sample of source and destination countries worldwide, focusing in particular on the role of regulation and institutions. The paper concludes that financial integration in Asia could be enhanced through policies that lower informational frictions, continue to buttress trade integration and capital market development, remove restrictions to foreign flows and bank penetration, and promote a common regulatory framework.
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Download or read book The Routledge REITs Research Handbook written by David Parker and published by Routledge. This book was released on 2018-10-10 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge REITs Research Handbook presents a cutting-edge examination of the research into this key global investment vehicle. Edited by internationally respected academic and REIT expert Professor David Parker, the book will set the research agenda for years to come. The handbook is divided into two parts, the first of which provides the global context and a thematic review covering: asset allocation, performance, trading, sustainability, Islamic REITs, emerging sectors and behavioural finance. Part II presents a regional review of the issues with high level case studies from a diverse range of countries including the US, UK, Brazil, India, Australia, China, Singapore, Israel and Russia, to name just a few. This handbook redefines existing areas within the context of international REITs research, highlights emerging areas and future trends and provides postgraduates, professionals and researchers with ideas and encouragement for future research. It is essential reading for all those interested in real estate, international investment, global finance and asset management.
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 136 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 Facing Global Digital Revolution written by Dyah Nirmala Arum Janie and published by Routledge. This book was released on 2020-02-25 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Industrial Revolution 4.0 describes the exponential changes to the way we live, work, and relate to one another due to the adoption of cyber-physical systems, the Internet of Things, and the Internet of Systems. This revolution is expected to impact all disciplines, industries, business, and economics. Therefore, the main goal of the conference was to provide recent research related development of digital technology to the business, economics, management, and accounting field. These proceedings consist of selected papers, accepted after a rigid review process covering several issues in strategic decision making, management, accounting, policy studies, knowledge management, innovation management, applied economics, econometrics, capital market, and marketing & sales management. It will provide details beyond what is possible to be included in an oral presentation and constitute a concise but timely medium for the dissemination of recent research results. BES Conference Proceedings 2019 will be invaluable to professionals and academics in business, management, accounting, and economics for a good understanding of the developments towards industrial revolution 4.0.
Download or read book China s Growing Influence on Asian Financial Markets written by Mr.Serkan Arslanalp and published by International Monetary Fund. This book was released on 2016-08-12 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds that financial spillovers from China to regional markets are on the rise. The main transmission channel appears to be trade linkages, although direct financial linkages are playing an increasing role. Without an impact on global risk premiums, China’s influence on regional markets is not yet to the level of the United States, but comparable to that of Japan. If China-related shocks are coupled with a rise in global risk premiums, as in August 2015 and January 2016, spillovers to the region could be significantly larger. Over the medium term, China’s financial spillovers could rise further with tighter financial linkages with the region, including through the ongoing internationalization of the renminbi and China’s capital account liberalization.
