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dc.contributor.authorWorthington, Andrew
dc.contributor.authorHiggs, Helen
dc.date.accessioned2017-05-03T13:06:40Z
dc.date.available2017-05-03T13:06:40Z
dc.date.issued2012
dc.date.modified2013-03-27T22:47:31Z
dc.identifier.issn1449387X
dc.identifier.urihttp://hdl.handle.net/10072/50002
dc.description.abstractThis paper measures the extent of interdependence suggestive of financial market integration among Asian equity markets after January 1993 until December 2010 using daily data. The analysis includes three developed (Hong Kong, Japan and Singapore) and eight emerging (China, India, Indonesia, Korea, Malaysia, the Philippines, Taiwan, and Thailand) markets. The methodology uses panel unit root tests to test for nonstationarity, and conducts multivariate cointegration, Granger causality and level VAR procedures and variance decomposition to examine the equilibrium and causal relationships between these markets. The results indicate that there is a stationary long-run equilibrium relationship among, and significant and substantial short and long run causal linkages between these Asian equity markets. This evidence suggests that a high level of financial integration currently exists in the Asian region, notwithstanding the absence of extensive formal regional agreements aimed at promoting financial integration as found elsewhere, especially in the European Union.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoeng
dc.publisherWorld Business Institute
dc.publisher.placeAustralia
dc.publisher.urihttp://wbiaus.org/View%20Articles_current96_Julyl2012.htm
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom50
dc.relation.ispartofpageto59
dc.relation.ispartofissue2
dc.relation.ispartofjournalJournal of Business and Policy Research
dc.relation.ispartofvolume7
dc.rights.retentionY
dc.subject.fieldofresearchFinance
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchBusiness and Management
dc.subject.fieldofresearchPolicy and Administration
dc.subject.fieldofresearchcode150201
dc.subject.fieldofresearchcode1502
dc.subject.fieldofresearchcode1503
dc.subject.fieldofresearchcode1605
dc.titleNew evidence of financial integration in Asian markets
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyrightSelf-archiving of the author-manuscript version is not yet supported by this journal. Please refer to the journal link for access to the definitive, published version or contact the authors for more information.
gro.date.issued2012
gro.hasfulltextNo Full Text
gro.griffith.authorWorthington, Andrew C.
gro.griffith.authorHiggs, Helen


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