Country financial and political risk: the case of Indonesia, Malaysia and Philippines

Dimitrios Asteriou ()

International Journal of Monetary Economics and Finance, 2008, vol. 1, issue 2, pages 162-176

Abstract: The following research uses the Clark (2002) and Clark and Kassimatis (2004) methodology to calculate the market value of three Asian Countries (Indonesia, Malaysia and Philippines) for each year over the period 1990?2004 and to estimate the macroeconomic financial risk premium from 1990 to 2004. It also examines whether and to what extent their stock market's performance is affected by the financial risk premium. The results show that before the Asian crisis, the East Asian Countries had strong economic growth and low levels of debt when compared with the size of their economies.

Keywords: financial risk premium; political risk; Asian crisis; Indonesia; Malaysia; Philippines; market value; stock market performance; East Asia (search for similar items in EconPapers)
Date: 2008

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Persistent link: http://EconPapers.repec.org/RePEc:mes:ijmefi:v:1:y:2008:i:2:p:162-176

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