Equity market integration in the Asia Pacific region: Evidence from discount factors
Edda Claus () and
Brian Lucey ()
Research in International Business and Finance, 2012, vol. 26, issue 2, 137-163
The paper investigates stock market integration among 10 economies in the Asia Pacific region over the period April to May 2006 based on a recently developed technique that relies on estimating expected discount rates; see Flood and Rose (2005a,b). The results show a limited but varying degree of stock market integration among the 10 economies. Membership in a formal economic organization does not seem to affect the degree of integration.
Keywords: Stock market integration; Non-linear panel estimations (search for similar items in EconPapers)
JEL-codes: G15 C33 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:26:y:2012:i:2:p:137-163
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