Capital Market Integration in the Pacific Basin Region PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Capital Market Integration in the Pacific Basin Region PDF full book. Access full book title Capital Market Integration in the Pacific Basin Region by Ms.Kate Phylaktis. Download full books in PDF and EPUB format.

Capital Market Integration in the Pacific Basin Region

Capital Market Integration in the Pacific Basin Region PDF Author: Ms.Kate Phylaktis
Publisher: International Monetary Fund
ISBN: 1451855435
Category : Business & Economics
Languages : en
Pages : 32

Book Description
This paper investigates the extent to which financial markets in the Pacific Basin Region have become more integrated, by analyzing the comovements of real interest rates. The paper uses cointegration and error correction models and draws inferences on the degree of capital market integration by looking at the speed of adjustment of real interest rates following a shock. The results show that there has been an increase in capital market integration with both U.S. and Japan during the 1980s. Japan has not, however, overtaken U.S. in dominating the financial markets of these countries, except possibly in the case of Malaysia. Capital market integration is found to be greater in Singapore, Hong Kong and Taiwan Province of China. On the other hand, Japan is the least integrated country with the United States.
➤