Integration of Emergency Equity Markets: Major Asian Players

Evžen Kočenda and Jan Hanousek

Korean Economic Review, 1998, vol. 14, 99-113

Abstract: This paper analyzes the most advanced part of the emerging capital market of East Asia in order to assess its weak- form efficiency and to test for the conver-gence of market returns in the different countries The analysis of convergence addresses the question of whether the markets in East Asia are becoming a single market rather than a group of segmented ones and whether they behave efficiently. We haw found support for the fact that the returns of Fast Asian capital markets are converging within selected group and "limiting" group mean returns are weak-form efficient.

Keywords: Market Return Differential; Convergence; Panel Data; Stationarity; Market Efficiency (search for similar items in EconPapers)
JEL-codes: E44 F43 G15 (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (13)

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