Globalisation des marchés de capitaux et valorisation des actifs financiers

Dominique Pépin ()

Revue économique, 2004, vol. 55, issue 2, 207-226

Abstract: This paper examines changes in equities pricing following liberalization or globalization of capital markets. The usual comparison between models of market (mild) segmentation with models of market integration shows that liberalization imply the rise in the equities prices. We show that this result does not hold in a more general model. By taking into account the manyfold and simultaneous features of globalization process on capital markets, we can infirm this proposition and the one which maintains that the more globalized capital markets are, the more integrated they are. Classification JEL : G12, G15, F36

JEL-codes: F36 G12 G15 (search for similar items in EconPapers)
Date: 2004
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Working Paper: Globalisation des marchés de capitaux et valorisation des actifs financiers (2000)
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