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Integration Of Chinese And Russian Stock Markets With World Markets
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Book Synopsis Integration of Chinese and Russian Stock Markets with World Markets by : Lubos Komarek
Download or read book Integration of Chinese and Russian Stock Markets with World Markets written by Lubos Komarek and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in examining the financial linkages of economies has increased in the wake of the 2008/2009 global financial crisis. Applying the concepts of beta- and sigma-convergence of stock market returns, we assess changes over time in the degree of stock market integration between Russia and China as well as between them and the United States, the euro area and Japan. Our analysis is based on national and sectoral data spanning the period September 1995 to October 2010. Overall, we find evidence for gradually increasing stock market integration after the 1997 Asian financial crisis and the 1998 Russian financial crisis. Following a major disruption caused by the 2008/2009 global financial crisis, the process of stock market integration resumes between Russia and China, and with world markets. Notably, the episode of sigma-divergence from the 2008/2009 crisis is stronger for China than Russia. We also find that the process of stock market integration and the impact of the recent crisis have not been uniform at the sectoral level, suggesting potential for diversification of risk across sectors.
Book Synopsis Integration of Chinese and Russian Stock Markets with World Markets by : Jan Babeckij
Download or read book Integration of Chinese and Russian Stock Markets with World Markets written by Jan Babeckij and published by . This book was released on 2012 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Global and Regional Links between Stock Markets by : Tomasz J. Kozluk
Download or read book Global and Regional Links between Stock Markets written by Tomasz J. Kozluk and published by . This book was released on 2015 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a broad sample of developed and emerging economies over the past ten years we apply the approximate factor model in a search for common global and regional driving-forces in stock market returns and volatility. We focus particularly on two emerging stock markets - Russia and China, because of their unique characteristics and performance in the past years. We find that while Russian markets, like the CEEC region, substantially increased their integration with global stock markets, both the Chinese A- and B-share markets continued to move largely independently from global movements and only slightly increased in comovement with regional forces. We provide evidence of a general increase in global comovement of stock markets over the past decade and a decline in the role of regional forces, which imply a decrease of the effectiveness of cross-country hedging strategies.
Book Synopsis Russia in the Capitalist World by : Shoaib Khan
Download or read book Russia in the Capitalist World written by Shoaib Khan and published by Lambert Academic Publishing . This book was released on 2020-02-27 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The breaking down of the Soviet Union in 1991 and the official statement of the progress from communism to free enterprise, Russia, both regarding its financial potential and populace and as far as its legacy of a severe centralist framework has an exceptional remaining among transitional economies. A long ways past a progress from communism to private enterprise, bearing the multi-dimensional change in social, political and arrangement regions combined with an intricate procedure as a top priority, this change was no uncertainty considerably more troublesome and delicate for a country like Russia that had an established communist custom.
Book Synopsis Financial Integration in the European Union by : Roman Matoušek
Download or read book Financial Integration in the European Union written by Roman Matoušek and published by Routledge. This book was released on 2012-03-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection assesses the level of financial integration in the European Union (EU) and the differences across the countries and segments of the EU financial system. Progress in financial integration is key to the EU’s economic growth and competitiveness and although it has advanced substantially, the process is still far from completion. This book focuses on the pace of financial integration in the EU with special emphasis on the new EU Member States and investigates their progress in comparison with ‘old’ EU countries. The book is the first of its kind to include and evaluate the effects of the global financial crisis on the process of EU financial integration. In particular, the book’s contributors address the issue of whether a high degree of financial integration contributed to the intensification of the financial crisis, or whether a low level of integration prevented countries and financial industries from some of the negative effects of the crisis. Although most of the chapters apply contemporary econometric tools, the technical part is always reduced to indispensable minimum and the emphasis is given to economic interpretation of the results. The book aims to offer an up to date and insightful examination of the process of financial integration in the EU today.
Book Synopsis Global Stock Market Integration by : Sabur Mollah
Download or read book Global Stock Market Integration written by Sabur Mollah and published by Springer. This book was released on 2016-02-10 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.
Book Synopsis China's Growth and Integration Into the World Economy by : Eswar Prasad
Download or read book China's Growth and Integration Into the World Economy written by Eswar Prasad and published by International Monetary Fund. This book was released on 2004-06-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.
Book Synopsis How China Became Capitalist by : R. Coase
Download or read book How China Became Capitalist written by R. Coase and published by Springer. This book was released on 2016-04-30 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
Book Synopsis Capitalizing China by : Joseph P. H. Fan
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Book Synopsis Economic Imbalances and Institutional Changes to the Euro and the European Union by : Rajmund Mirdala
Download or read book Economic Imbalances and Institutional Changes to the Euro and the European Union written by Rajmund Mirdala and published by Emerald Group Publishing. This book was released on 2017-08-22 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a critical perspective from which to observe evolution of the Euro Area and the European Union in these times of growing economic and political conflict.
Book Synopsis Global Trends 2040 by : National Intelligence Council
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Book Synopsis Political Economy of Globalization: Financialization & Crises by : Mehak Anjum Siddiquei
Download or read book Political Economy of Globalization: Financialization & Crises written by Mehak Anjum Siddiquei and published by IJOPEC Publications. This book was released on 2016-12-28 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book is a collection of selected papers, presented at the International Conference of Political Economy (ICOPEC 2016). The deliberate employment of the term “political economy” in the title “International Conference of Political Economy” implies the fact that economics is perceived as an integral part of social phenomena in the International Conference of Political Economy (ICOPEC). Accordingly, even if economic institutions and relations form the foundations of society in the contemporary world, economic development is dependent on social power and dynamics, while economic policies, per se, are shaped by not only technical processes but also diverse interests and choices. Within this context, politics is involved in every encounter between different economic classes, social groups and genders being shaped by the visions of a better life as the subject matter of philosophy, ethics and religion and at times it finds its best expression in art. Law, on the other hand, is the embodiment of all social relations which are, in their essence, political. Thus, this conference does not reduce society to market relations only, despite positioning the economy in the heart of social relations. Above all, it considers the society as a political entity. Indeed, everything constitutes the subject matter of politics. The arguments in favour of purifying market relations from the influence of politics and the discourse that they take place on their own right serve to disguise the conflicts of interest and power asymmetries inherent therein. This conference regards man as homo politicus, as Aristoteles put it, rather than homo economicus. In 2016, ICOPEC conferences were turned into a conference series with its 7th conference and the main theme of the 7th conference was determined as “State, Economic Policy, Taxation and Development". IJOPEC Publication has undertaken to publish selected papers, presented at this conference in English and Turkish, in five different edited books. In the 90s the phenomena of globalization managed to dominate political, popular, and academic debates. While reading a newspaper or a book, watching television, surfing the Internet, or participating in a demonstration we come across the links of globalization in our everyday lives. Globalization as a wide term is variously blamed or credited with a huge range of negative effects, e. g. it is often related to social problems ranging from famine to floods, from pollution to poverty, and from rural depopulation to urban overcrowding. On the contrary, globalization can be also considered as the source of success in development, for instance decrease in the poverty levels, economic prosperity and growth, better services, and enhanced awareness of human rights. Nevertheless, some sceptics of the benefits from globalization have also described the potential ways in transforming political, economic, and social relations within and between countries. This transformation may lead to the benefit of human welfare worldwide. T İsmail Şiriner, Bryan Christiansen, Julia Dobreva (Introduction: Political Economy of Globalization: Financialization & Crises) 10 Since the 80s, we can observe a significant increase in the role of the financial sector. This progress is often referred to as financialization. Financialization has many features and affects numerous different economic entities (Epstein 2015; Stockhammer 2013). One key component is the magnificent growth of the financial sector. Greenwood & Scharfstein (2013) point out a massive rise of the financial service sector in the USA during the last 30 years. The growth can be proved either by the financial sector’s share in GDP, the quantity of financial assets, or by employment and average wages in the financial sector. But this growth is not related to the USA; although to a softer scope, similar processes can also be observed in other OECD countries (Philippon & Reshel 2013). The financial rise has its base in the deregulation and liberalization of the financial (and economic) system. From this point of view, financialization is the cause rather than the effect. This is the major difference compared to the other approaches. Financialization can affect the macro-economy through four main channels. These are income distribution, investment in capital stock, household debt, and net exports and current account balances. As a correction, it is discussed that economic structures governed by financialization should be addressed on four dimensions: a) re-regulation and reduction of the financial sector, b) redistribution of income from top to bottom and from capital to labour, c) re-orientation of macroeconomic policies to stabilize domestic demand at non-inflationary full employment levels, and eventually d) re-creation of international monetary and economic policy coordination.
Book Synopsis China’s Grand Strategy by : Andrew Scobell
Download or read book China’s Grand Strategy written by Andrew Scobell and published by Rand Corporation. This book was released on 2020-07-27 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
Book Synopsis Economic Reforms for Global Competitiveness by : Ushakov, Denis
Download or read book Economic Reforms for Global Competitiveness written by Ushakov, Denis and published by IGI Global. This book was released on 2017-09-13 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reforms are a necessary part of social and economic regulation. Each year, political pressure for economic reform becomes more prevalent, especially from various international organizations and business associations. Economic Reforms for Global Competitiveness is an essential reference source for the latest scholarly research on important factors of modern countries’ social and economic dynamics. Featuring coverage on a broad range of topics such as human capital, project management, and fiscal reforms, this book is ideally designed for academicians, researchers, and students seeking the latest material on the role and impact of economic reforms.
Book Synopsis The Globalization Paradox by : Dani Rodrik
Download or read book The Globalization Paradox written by Dani Rodrik and published by OUP Oxford. This book was released on 2012-05-17 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Book Synopsis Asian Economic Integration in an Era of Global Uncertainty by : Shiro Armstrong
Download or read book Asian Economic Integration in an Era of Global Uncertainty written by Shiro Armstrong and published by ANU Press. This book was released on 2018-01-08 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968. The 38th PAFTAD conference met at a key time to consider international economic integration. Earlier in the year, the people of the United Kingdom voted to leave the European Union and the United States elected Donald Trump as their next president on the back of an inward-looking ‘America First’ promise. Brexit and President Trump represent a growing, and worrying, trend towards protectionism in the North Atlantic countries that have led the process of globalisation since the end of the Second World War. The chapters in the volume describe the state of play in Asian economic integration but, more importantly, look forward to the region’s future, and the role it might play in defending the global system that has underwritten its historic rise. Asia has the potential to stand as a bulwark against the dual threats of North Atlantic protectionism and slowing trade growth, but collective leadership will be needed regionally and difficult domestic reforms will be required in each country.
Book Synopsis Corporate Governance in Russia by : Daniel J. McCarthy
Download or read book Corporate Governance in Russia written by Daniel J. McCarthy and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the past decade of abuse of shareholder rights, corporate governance is essential for Russia's future. In this comprehensive volume, an international group of contributors - academics, corporate executives, government officials, policymakers, specialists from nongovernmental organizations, and legal experts - examine the crucial role of corporate governance as well as the external institutions and forces that affect it. Offering coverage from numerous perspectives, the contributors explore external and institutional influences on corporate governance, its workings within corporations, and the relationships between boards of directors, managers, shareholders, and the government. Case studies of three major companies illustrate the challenges and opportunities involved in creating sound practices. The concluding section provides a summary of the current situation and discusses implications for the future of Russia's corporate governance. A valuable source of information, Corporate Governance in Russia is a must-read for business people, government officials, academic researchers, students, and all those interested in Russia and what the future holds.
