Global Share Market Integration and Diversification: A Study of Asian Emerging Market

Tan Kok Loong and Wong Pik Har

Asian Economic and Financial Review, 2017, vol. 7, issue 10, 981-991

Abstract: This study attempts to look at emerging markets as an alternative for international diversification. This study examines if equity investors from Asian Emerging Markets are able to gain diversification benefit by investing in the equity markets of other Asian Emerging Markets. An assessment of market integration is made using a cross country correlation analysis and a Johansen co integration test. The results indicate that Asian Emerging Markets are moving towards integration as well. Therefore, this study concludes that diversification among Asian Emerging Markets is no longer a viable option in the long run.

Keywords: Emerging; market; market; integration; portfolio; diversification (search for similar items in EconPapers)
Date: 2017
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