Financial integration and exchange market pressure

Kate Phylaktis and Muhammad Aftab

Chapter 14 in Handbook of Financial Integration, 2024, pp 312-339 from Edward Elgar Publishing

Abstract: This study examines the role of financial integration in exchange market pressure (EMP) across a representative group of 42 advanced and emerging markets over the period 2000–2019, which covers the global financial crisis, which has heightened monetary and economic policy uncertainty. The authors use a novel measure of financial integration, namely the uncovered equity return differential versus the US, which is based on the Uncovered Equity Parity and is available at a monthly frequency. Their analysis is based on panel cointegration and several robustness tests and it shows that indeed financial integration has a significant effect on the EMP of advanced markets as well as emerging markets.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781803926377.00022 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21716_14

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().