Financial Market Integration in East Asia: Regional or Global?

Jongkyou Jeon, Yonghyup Oh and Doo Yong Yang
Additional contact information
Jongkyou Jeon: Kyung Hee International College, Kyung Hee University 1, Seocheon-dong, Giheung-gu, Yongin-si, Gyeonggi-do, 446-701 Korea.
Yonghyup Oh: Korea Institute for International, Economic Policy, 300-4, Yomgok-dong, Seocho-gu, Seoul, 137-747, Korea.
Doo Yong Yang: Korea Institute for International, Economic Policy, 300-4, Yomgok-dong, Seocho-gu, Seoul, 137-747 Korea.

Asian Economic Papers, 2006, vol. 5, issue 1, pages 73-89

Abstract: This paper investigates whether financial markets in East Asia are integrated with global markets or with each other.We use two approaches: a volume-based approach and an asset price approach. Our overall results suggest global integration of these markets rather than regional integration and that there is no anchor market in the region that would match the advanced markets such as the United States. Though global integration is not a force that competes with regional integration, there seems to be no strong sign of the creation of an effective financial market mechanism in East Asia. (c) 2006 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

View citations in EconPapers

Downloads: (external link)
http://www.mitpressj ... 162/asep.2006.5.1.73 link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Ordering information: This journal article can be ordered from
http://www.mitpressjournals.org/loi/asep

Access Statistics for this article

Asian Economic Papers is edited by Jeffrey D. Sachs, Yunjong Wang and Wing Thye Woo

More articles in Asian Economic Papers from MIT Press
Series data maintained by Christopher F. Baum ().