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Interdependence Among The Asian Pacific Stock Market During The Asian Financial Crisis
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Book Synopsis Interdependence Among the Asian Pacific Stock Market During the Asian Financial Crisis by : Wan Mansor Mahmood
Download or read book Interdependence Among the Asian Pacific Stock Market During the Asian Financial Crisis written by Wan Mansor Mahmood and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the short-run and long-run price interdependence among the Asian Pacific equity markets in the period surrounding the Asian financial crisis. The daily data from January 1997 to December 2000 composed of value weighted equity market indices for Malaysian, Japan, Hong Kong and Australia are used. The unit root test, cointergration test, error correction model and the causality tests are conducted to examine the relationship among these markets. Our results show that there is a stationary long-run relationship and a significant short-run causal linkage for certain cases among Asian Pacific equity markets. Furthermore, the long-run interdependence has strengthened since the onset of the crises. The causal relationships that exist between the developed, and emerging equity markets, suggest that opportunities for international portfolio diversification in Asian Pacific equity markets still exist.
Book Synopsis Price Interdependence Among Equity Markets in the Asia-Pacific Region by : Eduardo Roca
Download or read book Price Interdependence Among Equity Markets in the Asia-Pacific Region written by Eduardo Roca and published by Routledge. This book was released on 2020-11-26 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2000: An investigation of the issue of financial markets interdependence or integration through the application of recently developed and powerful techniques in time series econometrics. The text provides coverage of theoretical analysis and applications in the context of the Asia-Pacific region.
Book Synopsis An Empirical Study of Cointegration and Causality in the Asia-Pacific Stock Markets by : Wenzhong Fan
Download or read book An Empirical Study of Cointegration and Causality in the Asia-Pacific Stock Markets written by Wenzhong Fan and published by . This book was released on 2003 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary aim of this study is to examine both the integration hypothesis and the short- and long-term dynamic causal linkage in the Asia-Pacific region. Employing recently advanced unit root and cointegration techniques that accommodate structural breaks and GARCH effects, this analysis will provide not only an indication of the direction of interaction but a quantitative assessment of the degree of interdependence among specific markets, in particular the intra-regional impact in Asia-Pacific. Our empirical results suggest that Asia-Pacific stock market indices are highly integrated, and the stock market crash in 1987, as well as the Asian financial crises had a statistically significant impact on the long-term relations among Asian emerging stock markets.
Book Synopsis A Study of Correlation Between Selected Asian, European and American Stock Exchange Market by : Abhishek Tripathi
Download or read book A Study of Correlation Between Selected Asian, European and American Stock Exchange Market written by Abhishek Tripathi and published by . This book was released on 2014 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to Liberalization there will be emergence in stock markets. It has been observed that there has been increasing interdependence between most of the developed and emerging stock markets since the 1987 Stock Market Crash. This interdependence intensified after the 1997 Asian Financial Crisis. Objective of this paper is to examine the co-movement between selected stock market of different economies such as Asian, European and USA stock markets by using correlation technique. With the help of this technique we are able to identify the correlation between USA & European market, Asian & European market and Asian and USA markets. To examine the relationship among selected Asian countries, European and United States of America we are able to identify the correlation between return index of selected stock exchange.
Author :Herald van der Linde Publisher :Marshall Cavendish International Asia Pte Ltd ISBN 13 :9815009524 Total Pages :274 pages Book Rating :4.8/5 (15 download)
Book Synopsis Asia’s Stock Markets from the Ground Up by : Herald van der Linde
Download or read book Asia’s Stock Markets from the Ground Up written by Herald van der Linde and published by Marshall Cavendish International Asia Pte Ltd. This book was released on 2021-10-15 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: A summary of how stock markets work for those looking to invest. This book is a practical guide to Asia’s stock markets for a general audience. It is for people who do not know much about financial markets but, for whatever reason, would like to learn more. They could be seasoned expatriate pilots, academics and other professionals, newcomers in the region as well as students or young men and women about to start in the finance industry. The idea is to cut through the alphabet soup of industry jargon to provide a clear understanding of how these markets work, how they differ from each other in size and depth, what unique features each stock market has and what drives all the different sectors in these markets – consumers, the internet, banks and technology. The book includes helpful history lessons and personal anecdotes drawn from the author’s 30 years in the world of Asian investments.
Author :Ritankitashree Pathak Publisher :Faculty of Commerce Banaras Hindu University ISBN 13 :9787333240730 Total Pages :0 pages Book Rating :4.2/5 (47 download)
Book Synopsis Stock Market Interdependence in Emerging Asian Economies by : Ritankitashree Pathak
Download or read book Stock Market Interdependence in Emerging Asian Economies written by Ritankitashree Pathak and published by Faculty of Commerce Banaras Hindu University. This book was released on 2022-09-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market interdependence can be understood as the process through which markets become closely integrated with its neighboring markets or the markets of the rest of the world without any administrative or economic barriers. This implies free flow of capital from one market to the other leading to better allocation of capital, development of markets, risk diversification as well as the development of financially unstable and less developed markets. It has been defined by different researchers differently. Classical ideology connote that markets are integrated because 'The Law of One Price' holds good i.e. the returns on assets are identical irrespective of the domicile of the investor or the issuer (Pagano, 2007). Market interdependence imply that markets are integrated when participants face single set of rules and have equal access to all financial instruments and services thereon and are treated as equal while being active in the market (Fakhr & Tayabi, 2009). It is stated as a process by which segmented markets get unified and the participants enjoy same access across markets (Jain & Bhanumurthy, 2005).
Book Synopsis A Comparison of the Long Term Interdependence of Southeast Asian Equity Markets by : Raisul Islam
Download or read book A Comparison of the Long Term Interdependence of Southeast Asian Equity Markets written by Raisul Islam and published by . This book was released on 2016 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to examine the equity market crisis contagion in major Asian economic markets. A comparative assessment of Asian markets during the Asian Financial Crisis and Global Financial crisis may clearly identify the changing nature of long term integration of major Asian markets. The selection criteria of specific Asian markets of different peripheries depend particularly on the roles and structure of these markets. The impact of the global financial contagion and the lingering financial linkage in the aftermath of crisis will explain the reaction of the majority of Asian markets to global linkage. While majority of the studies focused on dynamic short term association in European and MENA contagions in the post global financial crisis period; after the global financial crisis, attention paid to long term Asian contagion adds new perspective to hitherto disorganized theories.
Book Synopsis Contagion Versus Interdependence by : Stefanie Kleimeier
Download or read book Contagion Versus Interdependence written by Stefanie Kleimeier and published by . This book was released on 2003 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a framework based on correlation analysis to test for contagion during the episode of financial turmoil surrounding the Asian crisis. In particular, we calculate conditional and unconditional correlation coefficients for 15 countries. We advocate the use of synchronous instead of synchronized data to correctly measure stock market comovements. Considering the two different phases of the Asian crisis, reveals that synchronized data lead to an over-identification of contagion for the early Thailand crisis phase but an under-identification of contagion during the late Hong Kong crisis phase. When using synchronous data, we find little evidence of a significant change in the transmission mechanisms from Thailand to any of the other country in our sample as most financial shocks are thus transmitted through non-crisis-contingent channels. Contrary to the Thailand finding, we find evidence of contagion from the Hong Kong stock market to most of the other stock markets in our sample. This is in contrast with the findings of Forbes and Rigobon (2002) and suggests that most shocks are transmitted through crisis-contingent channels. Overall, our findings should caution researchers and practitioners alike when drawing conclusions based on synchronized data.
Book Synopsis How Does the Asian Crisis Affect the Interdependencies between Major Financial Markets in Asia and the Us? by : Leo H. Chan
Download or read book How Does the Asian Crisis Affect the Interdependencies between Major Financial Markets in Asia and the Us? written by Leo H. Chan and published by . This book was released on 2003 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical studies support evidence of major financial markets affecting minor markets. During the Asian Crisis, however, major markets, such as the US and Japan, reacted to the problems in smaller markets such as Hong Kong and Singapore. In this paper we apply a VAR model to capture the changes in the dynamic relationship among stock markets in Hong Kong, Singapore, Japan and the US. A multivariate stochastic volatility model (SVM) is also utilized to study the correlations in volatility among these markets to determine the impacts of the Crisis. We find strong lead-effect of Hong Kong market returns over the US market returns during the Crisis. Our results also show strong overacting behavior among investors across these markets during the Crisis. We also find that the Crisis period was marked by higher volatilities and stronger spillover effects across these markets.
Book Synopsis An Empirical Investigation of Asia-Pacific Stock Markets by : Su-Chin Yang
Download or read book An Empirical Investigation of Asia-Pacific Stock Markets written by Su-Chin Yang and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Financial Integration by : Xuan Vinh Vo
Download or read book International Financial Integration written by Xuan Vinh Vo and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the interdependence of the stock markets in the following countries; Hong Kong, Japan, Korea, Taiwan, Indonesia, Malaysia, Philippines, Singapore, Thailand, and the advanced stock markets of Australia, Germany, United Kingdom and the United States. Using data from 1994 to 2003 the paper employs both correlation, causality and cointegration analysis to describe the behavior of the above stock market indices over the period pre and post the 1997 Asian Financial Crises. The research provides answers to the following questions. Firstly, what are the short- and dynamic long-run relationships between each of the Asian markets and between these markets and the markets of advanced industrial nations? Secondly, have those relationships significantly changed after the 1997 Asian Financial Crisis? Thirdly, have the expected benefits from international portfolio diversification to a foreign investor from the US or Australia investing in Asian equity markets changed since the Asian financial crisis.
Book Synopsis The Co-Movement of Stock Markets in East Asia by : Nancy Huyghebaert
Download or read book The Co-Movement of Stock Markets in East Asia written by Nancy Huyghebaert and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the integration and causality of interdependencies among seven major East Asian stock exchanges before, during, and after the 1997-1998 Asian financial crisis. For this purpose, we use daily stock market data from July 1, 1992 to June 30, 2003 in local currency as well as US dollar terms. The data reveal that the relationships among East Asian stock markets are time varying. While stock market interactions are limited before the Asian financial crisis, we find that Hong Kong and Singapore respond significantly to shocks in most other East Asian markets, including Shanghai and Shenzhen, during this crisis. After the crisis, shocks in Hong Kong and Singapore largely affect other East Asian stock markets, except for those in Mainland China. Finally, considering the role of the USA shows that it strongly influences stock returns in East Asia - except for Mainland China - in all periods, while the reverse does not hold true.
Book Synopsis Development Strategies of Open Economies by : Frank S. T. Hsiao
Download or read book Development Strategies of Open Economies written by Frank S. T. Hsiao and published by World Scientific Publishing Company. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Causality and exogeneity between exports and economic growth : the case of Asian NICs -- The chaotic attractor of foreign direct investment : why China? : a panel data analysis -- FDI, exports, and GDP in East and Southeast Asia : panel data versus time-series causality analyses -- FDI, exports, economic growth nexus in first and second generation ANIEs / co-authored with Yongkul Won -- The IT revolution and macroeconomic volatility in newly developed countries : on the real and financial linkages -- The impacts of the U.S. economy on the Asia-Pacific region : does it matter? / co-authored with Akio Yamashita -- Gains from policy coordination between Taiwan and the USA : on the games governments play -- International policy coordination with a dominant player : the case of the United States, Japan, Taiwan, and Korea.
Book Synopsis Economic Interdependence in the Asia-Pacific Region: Towards a Yen Bloc by : C.H. Kwan
Download or read book Economic Interdependence in the Asia-Pacific Region: Towards a Yen Bloc written by C.H. Kwan and published by . This book was released on 1994 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Asian Financial Crisis by : Morris Goldstein
Download or read book The Asian Financial Crisis written by Morris Goldstein and published by Peterson Institute. This book was released on 1998 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.
Book Synopsis Asia-Pacific Financial Markets by : Suk-Joong Kim
Download or read book Asia-Pacific Financial Markets written by Suk-Joong Kim and published by Elsevier. This book was released on 2007-12-12 with total page 537 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of "International Finance Review" focuses on the Asia-Pacific financial markets. A total of 22 original papers, not published elsewhere, have been selected from a competitive field. These papers utilize a variety of methods, including theoretical, empirical and qualitative to highlight a range of issues across the region. Several papers offer combinations of these different categories and among the empirical papers, there are a wide variety of datasets analyzed. While China does play a significant part in the analysis of five of the papers in this volume (this is to be expected given its importance in the region), a host of other countries are also considered. This ensures the volume is truly international in its scope. These papers each serve to contribute to the knowledge on a particular issue related to the financial markets within this region and for this volume, three main issues have been identified: integration, innovation and challenges. Articles are contributed by experts in their fields. It is truly international in scope.
Book Synopsis Economic Interdependence in the Asia-Pacific Region by : C. H. Kwan
Download or read book Economic Interdependence in the Asia-Pacific Region written by C. H. Kwan and published by Psychology Press. This book was released on 1994 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1985 Plaza Accord, trade, investment and economic interdependence among the Asian economies has increased, while reliance on the US has fallen. In the light of this, Kwan considers the possiblity of forming a yen bloc in the region.
