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Investigation of Convergence of Returns in Asset Markets in Iran

Mohsen Pourebadollahan Covich (), Hossein Asgharpur and Sara Masoomzadeh ()
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Mohsen Pourebadollahan Covich: Associate Professor of Economics, University of Tabriz
Sara Masoomzadeh: MA in Economics, University of Tabriz

Quarterly Journal of Applied Theories of Economics, 2016, vol. 3, issue 3, 115-132

Abstract: Due to the nature of the assets in Iran, markets such as exchange rate, gold, housing and stock are options facing investors as asset portfolio, although each of them has different returns. Usually, investors are looking for higher returns and focus of investors on markets with higher returns may reduce returns of this kind of markets in the long run. This can be named as returns convergence of different asset markets. This study aims to also examine the returns convergence of dollar, euro, coins, housing and stock markets in Iran over the period 2002:05-2016:02, using Nahar and Inder method and convergence Measurement of each market`s returns to the average returns of them. Based on the results, the returns convergence of housing market was not significantly meaningful. Also, there was no evidence of convergence in the returns of other studied markets.

Keywords: Convergence; Returns; Asset markets; Nahar and Inder method; Iran. (search for similar items in EconPapers)
JEL-codes: C22 C51 G21 (search for similar items in EconPapers)
Date: 2016
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