L'intégration partielle des marchés financiers internationaux: modélisation et test empirique

Hubert de La Bruslerie and Jean Mathis

Annals of Economics and Statistics, 1997, issue 46, 115-139

Abstract: This article explores one type of financial market segmentation on the basis of the coexistence of two categories of investors, those who have unrestrained access to international markets and those who are limited to their national market alone one account of constraints principally related to obtaining information. We show that there is thus no incoherence between the lack of international diversification on the part of the agents and the acceptance of the international CAPM on the basis of evaluation relations.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1997:i:46:p:115-139

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