Integration of Asian and US stock markets
Disciplines
Text
French
ID: <
10.7202/602190ar>
·
DOI: <
10.7202/602190ar>
This paper presents an analysis of stock returns from three Asian countries, Hong-Kong, Malaysia and Singapor simultaneously with the New York Stock Exchange (NYSE). Two approaches are presented, the first relies on the specification of individuals preferences while the second treats the latter as an unobservable variable. The two approaches have led to the same empirical result, namely that the level of integration of these stock markets has increased between 1981:3 and 1993:3.