TESTING STOCK MARKETS’ INTEGRATION FROM CENTRAL AND EASTERN EUROPEAN COUNTRIES WITHIN EURO ZONE

Viorica Chirila and Ciprian Chirila
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Ciprian Chirila: “Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest

Studii Financiare (Financial Studies), 2014, vol. 18, issue 3, 76-88

Abstract: Stock market integration gives the opportunity of risk diversification on international level. The main effects of this integration are the development of stock markets and economic growth. This paper analyses the integration of stock markets from Central and Eastern Europe using convergence. Beta-convergence gives us information about integration’s speed and sigmaconvergence presents information about the degree of integration of stock markets from Central and Eastern Europe on the stock market of Euro Zone.

Keywords: return; beta convergence; sigma convergence (search for similar items in EconPapers)
JEL-codes: C51 G15 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:18:y:2014:i:3:p:76-88

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