Has Financial Market Integration Increased during the Nineties?

Juan Ayuso and Roberto Blanco

Working Papers from Banco de España

Abstract: This paper analyses whether there has been an increase in the degree of financial market integration during the nineties. To do this, we focus on stock markets and compute, first, a number of standard measures of co-movements that sometimes are interpreted as measures of financial integration. In the second part of the paper we compute two alternative measures of market integration based on a refinement of the approach suggested by Chen and Knez (1995).

Keywords: FINANCIAL MARKET; ECONOMIC INTEGRATION (search for similar items in EconPapers)
JEL-codes: G10 (search for similar items in EconPapers)
Pages: 39 pages
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:9923

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