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Stock market Integration--An Overview |
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| รหัสดีโอไอ | |
| Creator | Surachai Chancharat |
| Title | Stock market Integration--An Overview |
| Publisher | School of Development Economic |
| Publication Year | 2552 |
| Journal Title | Development Economic Review |
| Journal Vol. | 4 |
| Journal No. | 1 |
| Page no. | 23 |
| Keyword | Stock Market, Econometric Model, Integration, Diversification |
| ISSN | 1906-2540 |
| Abstract | This paper has reviewed an extensive literature examining stock market integration. Recent empirical studies of market integration have shown increasing interest in emerging stock markets. The results from the studies of market integration have important implications for international portfolio diversification and market efficiency. If stock markets are integrated the scope of international diversification benefits might be limited, and also the weak form of market efficiency will be violated. Econometric techniques such as cointegration test, factor analysis and GARCH models provide a useful tool to investigate the relationship among economic variables. In the context of stock market integration, these techniques can be used to examine whether international stock markets have a tendency to move together. |
