کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
973719 932860 2012 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
How close a relationship does a capital market have with other such markets? The case of Taiwan from the Asian financial crisis
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
How close a relationship does a capital market have with other such markets? The case of Taiwan from the Asian financial crisis
چکیده انگلیسی

In assessing how far and how close the relationships are between the Taiwan capital market and other international capital markets in Asian financial case, we examine the co-movement patterns by developing the “unequal variance test”. We find that a closer relationship exists between Taiwan and Hong Kong throughout the sample period than between Taiwan and other Asian countries and the US. It thus appears that adjacent regions with similar backgrounds in terms of their capital markets will reflect price patterns that are more similar to those of Taiwan than those of countries with which Taiwan frequently trades or cooperates.


► A new “unequal variance test” is developed.
► The new test describes “how” close the relationship is.
► We find that a closer relationship exists between Taiwan and Hong Kong.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 20, Issue 3, June 2012, Pages 349–362
نویسندگان
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