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Author : Giorgio Canarella
Publisher :
ISBN 13 : 9781612094113
Total Pages : 151 pages
Book Rating : 4.0/5 (941 download)
Download or read book NAFTA Stock Markets written by Giorgio Canarella and published by . This book was released on 2010 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Giorgio Canarella
Publisher :
ISBN 13 :
Total Pages : 94 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dynamic Stock Market Interactions between the Canadian, Mexican, and the United States Markets written by Giorgio Canarella and published by . This book was released on 2010 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the dynamic linkages that portray different facets of the joint probability distribution of stock market returns in NAFTA (i.e., Canada, Mexico, and the US). Our examination of interactions of the NAFTA stock markets considers three issues. First, we examine the long-run relationship between the three markets, using cointegration techniques. Second, we evaluate the dynamic relationships between the three markets, using impulse-response analysis. Finally, we explore the volatility transmission process between the three markets, using a variety of multivariate GARCH models. Our results also exhibit significant volatility transmission between the second moments of the NAFTA stock markets, albeit not homogenous. The magnitude and trend of the conditional correlations indicate that in the last few years, the Mexican stock market exhibited a tendency toward increased integration with the US market. Finally, we do note that evidence exists that the Peso and Asian financial crises as well as the stock-market crash in the US affect the return and volatility time-series relationships.
Author : Jorge Vargas Amezcua
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (125 download)
Download or read book Impact of NAFTA Equity Markets on the Mexican Stock Exchange written by Jorge Vargas Amezcua and published by . This book was released on 2018 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ali F. Darrat
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Equity Market Linkage and Multinational Trade Accords written by Ali F. Darrat and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of multinational trade accords on the degree of stock market linkage using NAFTA as a case study. Besides liberalizing trade among the U.S., Canada and Mexico, NAFTA has also sought to strengthen linkage among stock markets of these countries. If successful, this could lessen the appeal of asset diversification across the North American region and promote a higher degree of market efficiency. We assess the possible impact of NAFTA on market linkage using cross correlations, multivariate price cointegrating systems, speed of convergence, and generalized variance decompositions of unexpected stock returns. The evidence proves robust and consistently indicates intensified equity market linkage since the NAFTA accord. The results also suggest that interdependent goods markets in the region are a primary reason behind the stronger equity market linkage observed in the post-NAFTA period.
Author : Olin Lewis Wethington
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 568 pages
Book Rating : 4.:/5 (318 download)
Download or read book Financial Market Liberalization written by Olin Lewis Wethington and published by McGraw-Hill Companies. This book was released on 1994 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Francisco López-Herrera
Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (13 download)
Download or read book Interdependence of NAFTA Capital Markets written by Francisco López-Herrera and published by . This book was released on 2015 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the long-run relationships among NAFTA capital market returns and then calculate the weights of a “time-varying minimum variance portfolio” that includes the Canadian, Mexican, and USA capital markets between March 2007 and March 2009, a period of intense turbulence in international markets. Our results suggest that the behavior of NAFTA market investors is not consistent with that of a theoretical “risk-averse” agent during periods of high uncertainty and may be either considered as irrational or attributed to a possible “home country bias”. This finding represents valuable information for portfolio managers and contributes to a better understanding of the nature of the markets in which they invest. It also has practical implications in the design of international portfolio investment policies.
Author : Yueming (Roy) Sun
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (122 download)
Download or read book Financial Integration of NAFTA written by Yueming (Roy) Sun and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Applying market arbitrage theory on daily data, we measure the empirical financial market convergence of NAFTA's financial markets since 1994. Radar diagram and wavelet multi-resolution analysis (MRA) scalogram movies of the statistical moments of the term interest rate differentials visualize the multidimensional convergence. From the radar movies, we find: 1) a uniform disappearance of the average forward premia; 2) a non-uniform decline of bilateral financial market risk; 3) variation of bilateral financial market pressure measured by skewness; and 4) emergence of uniform market microstructures as measured by vanishing excess-kurtosis. From the MRA movies, we find that the national term structures of interest rates converge, since the stochastic resonance coefficients of the interest rate differentials lose significance: market energy at all frequencies dissipates into "white noise." Testing Obrimah, Prakash and Rangan's (2009) Lemma, we find that, after 2002, higher financial flow pressure is a necessary condition for lower financial market risk.
Author : Raj Aggarwal
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book Equity Market Integration in the NAFTA Region written by Raj Aggarwal and published by . This book was released on 2005 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines integration of the three participating equity markets before and after the 1993 passage of NAFTA based on daily, weekly, and monthly data for seven years before and after the passage of NAFTA (1988-2001). As expected, unit root tests for the overall period 1988-2001 and the two sub-periods, 1988-1993 (pre-NAFTA) and 1994-2001 (post-NAFTA), indicate that stock prices are non-stationary but stock returns are generally stationary for all three markets for all three periods. However, daily, weekly, and monthly equity prices in the three NAFTA countries are cointegrated only for the post-NAFTA period. Similarly, US stock prices are more integrated with both Canadian and Mexican stock prices after the passage of NAFTA. This evidence of increased financial integration and co-movement in NAFTA equity markets after the passage of NAFTA has important implications for policy makers and managers.
Author : Shahid S. Hamid
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (92 download)
Download or read book An Investigation of the Impact of NAFTA on Selected National Equity Markets and on U.S. and Canadian Industries written by Shahid S. Hamid and published by . This book was released on with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George M Von Furstenberg
Publisher :
ISBN 13 : 9789401153751
Total Pages : 292 pages
Book Rating : 4.1/5 (537 download)
Download or read book Regulation and Supervision of Financial Institutions in the NAFTA Countries and Beyond written by George M Von Furstenberg and published by . This book was released on 1997-03-31 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luis Serven
Publisher : World Bank Publications
ISBN 13 : 0821383744
Total Pages : 432 pages
Book Rating : 4.8/5 (213 download)
Download or read book Lessons from NAFTA written by Luis Serven and published by World Bank Publications. This book was released on 2004-11-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
Author : Kevin P. Gallagher
Publisher :
ISBN 13 : 9780982568309
Total Pages : 90 pages
Book Rating : 4.5/5 (683 download)
Download or read book The Future of North American Trade Policy written by Kevin P. Gallagher and published by . This book was released on 2009-11-30 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lawrence J. Gitman
Publisher :
ISBN 13 : 9781947172555
Total Pages : 732 pages
Book Rating : 4.1/5 (725 download)
Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2018 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
Author : Mary E. Burfisher
Publisher : International Monetary Fund
ISBN 13 : 1498303285
Total Pages : 34 pages
Book Rating : 4.4/5 (983 download)
Download or read book NAFTA to USMCA: What is Gained? written by Mary E. Burfisher and published by International Monetary Fund. This book was released on 2019-03-26 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States – Mexico – Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, computable-general-equilibrium model to provide an analytical assessment of five key provisions in the new agreement, including tighter rules of origin in the automotive, textiles and apparel sectors, more liberalized agricultural trade, and other trade facilitation measures. The results show that together these provisions would adversely affect trade in the automotive, textiles and apparel sectors, while generating modest aggregate gains in terms of welfare, mostly driven by improved goods market access, with a negligible effect on real GDP. The welfare benefits from USMCA would be greatly enhanced with the elimination of U.S. tariffs on steel and aluminum imports from Canada and Mexico and the elimination of the Canadian and Mexican import surtaxes imposed after the U.S. tariffs were put in place.
Author : R. Matousek
Publisher : Springer
ISBN 13 : 0230302211
Total Pages : 299 pages
Book Rating : 4.2/5 (33 download)
Download or read book Money, Banking and Financial Markets in Central and Eastern Europe written by R. Matousek and published by Springer. This book was released on 2015-12-04 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.
Author : Ralph Nader
Publisher : North Atlantic Books
ISBN 13 : 9781556431692
Total Pages : 242 pages
Book Rating : 4.4/5 (316 download)
Download or read book The Case Against "free Trade" written by Ralph Nader and published by North Atlantic Books. This book was released on 1993 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the notion of "free trade" and the issues raised by adopting the General Agreement on Tariffs and Trade (GATT) and the North American Free Trade Agreement (NAFTA). Essays by Ralph Nader, Jerry Brown, William Greider, Margaret Atwood, Mark Ritchie, Wendell Berry, Pat Choate, and others.
Author : Gary Clyde Hufbauer
Publisher : Columbia University Press
ISBN 13 : 0881324477
Total Pages : 533 pages
Book Rating : 4.8/5 (813 download)
Download or read book NAFTA Revisited written by Gary Clyde Hufbauer and published by Columbia University Press. This book was released on 2005-10-15 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: NAFTA entered into force in 1994 after a bitter Congressional debate. But NAFTA in operation has proved no less controversial than NAFTA before ratification, for both supporters and opponents of trade liberalization have cited experience with the agreement to justify their positions. To provide a factual basis for this ongoing debate, the authors evaluate NAFTA's performance over the first seven years, comparing actual experience with both the objectives of the agreement's supporters and the charges of its critics. They then examine future challenges and opportunities in the trade and investment relationships among the three partner countries and the broader implications for new trade initiatives throughout the hemisphere.
