کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5053708 | 1476517 | 2015 | 15 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Dynamic Asian stock market convergence: Evidence from dynamic cointegration analysis among China and ASEAN-5
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper examines the dynamic process of convergence among cross-border stock markets in China and ASEAN-5 countries using recursive cointegration analysis. The results show that these six stock markets had at most one cointegrating vector from 1994 to 2002. Overall, the regional financial integration between China and ASEAN-5 has gradually increased. Additionally, the estimated coefficients of error correction terms are statistically significant and negative in China and Indonesia, but the coefficients of other countries are insignificant, meaning that all of the adjustment of this cointegration fell on these two countries' stock markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 51, December 2015, Pages 84-98
Journal: Economic Modelling - Volume 51, December 2015, Pages 84-98
نویسندگان
Mei-Se Chien, Chien-Chiang Lee, Te-Chung Hu, Hui-Ting Hu,