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Author: Kasilingam Lingaraja
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This research paper investigates the stock market movements and linkages between the Asian emerging markets (China, India, Indonesia, Korea, Malaysia, Philippines, Taiwan and Thailand) and two developed markets (i.e. USA and Japan). This study employs the statistical application of descriptive statistics, unit root test, correlation and pairwise granger causality test. The study used daily data from 01st January, 2005 to 31st December, 2014, to examine both short-run (year wise) and long-run (whole study period) movements and linkages between Asian emerging stock markets and two developed stock markets. The presence of short-run relationship and absence of a strong long-run relationship, among these markets, were found. The short run (year wise) and long run movements and linkages have important implications for investors, risk managers and regulators. It is found that Indian stock market experienced less movements with developed markets (USA and JAPAN). This study also suggested that India's stock market is largely protected from global events i.e., 2007-2008. The sample stock markets of these eight countries of Asian emerging markets provide attractive diversification opportunities, for international portfolio investors during the long run period. All the eight countries of Asian emerging markets provide attractive diversification opportunities for international portfolio investors, over a long period.
Author: Kasilingam Lingaraja
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This research paper investigates the stock market movements and linkages between the Asian emerging markets (China, India, Indonesia, Korea, Malaysia, Philippines, Taiwan and Thailand) and two developed markets (i.e. USA and Japan). This study employs the statistical application of descriptive statistics, unit root test, correlation and pairwise granger causality test. The study used daily data from 01st January, 2005 to 31st December, 2014, to examine both short-run (year wise) and long-run (whole study period) movements and linkages between Asian emerging stock markets and two developed stock markets. The presence of short-run relationship and absence of a strong long-run relationship, among these markets, were found. The short run (year wise) and long run movements and linkages have important implications for investors, risk managers and regulators. It is found that Indian stock market experienced less movements with developed markets (USA and JAPAN). This study also suggested that India's stock market is largely protected from global events i.e., 2007-2008. The sample stock markets of these eight countries of Asian emerging markets provide attractive diversification opportunities, for international portfolio investors during the long run period. All the eight countries of Asian emerging markets provide attractive diversification opportunities for international portfolio investors, over a long period.
Author: Kasilingam Lingaraja
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
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Book Description
The aim of this study is to investigate the co-movements and dynamic linkages, between stock prices in emerging equity markets and exchange rates in currency markets of Asia, for eight countries, namely, China, India, Indonesia, Korea, Malaysia, Philippines, Taiwan and Thailand, by estimating correlation and granger causality tests, with 15 years daily returns for the period from 1st January, 2002 to 31st December, 2016. This research study focussed on currency rate returns, which were evaluated against respective Stock market indices of Asian emerging markets. It applied different statistical tools to analyze the obtained data. The research study also analyzes the causal relationship between the time series data, pertaining to currency and sample stock indices of Asian countries. The study found no correlation between indices and exchange rate returns of countries of Asia, though very weak relationship did exists, except China and Indonesia. The result indicated the non-existence of linkages and movements between the exchange rate and stock market index, under sample emerging countries in Asia, during the period under study.
Author: Mohammed El Hedi Arouri
Publisher: Academic Press
ISBN: 0124115632
Category : Business & Economics
Languages : en
Pages : 927
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Book Description
Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan Concentrates on post-crisis roles of emerging markets in the global economy Reports on key theoretical and technical developments in emerging financial markets Forecasts future developments in linkages among developed and emerging economies
Author: Ayaz Ahmed
Publisher:
ISBN:
Category : Capital assets pricing model
Languages : en
Pages : 56
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Book Description
Author: Suk-Joong Kim
Publisher: Elsevier
ISBN: 0762314710
Category : Business & Economics
Languages : en
Pages : 537
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Book Description
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.
Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821365444
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Author: Mr.Serkan Arslanalp
Publisher: International Monetary Fund
ISBN: 1475525133
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
This paper finds that financial spillovers from China to regional markets are on the rise. The main transmission channel appears to be trade linkages, although direct financial linkages are playing an increasing role. Without an impact on global risk premiums, China’s influence on regional markets is not yet to the level of the United States, but comparable to that of Japan. If China-related shocks are coupled with a rise in global risk premiums, as in August 2015 and January 2016, spillovers to the region could be significantly larger. Over the medium term, China’s financial spillovers could rise further with tighter financial linkages with the region, including through the ongoing internationalization of the renminbi and China’s capital account liberalization.
Author: Rosario N. Mantegna
Publisher: Cambridge University Press
ISBN: 1139431226
Category : Business & Economics
Languages : en
Pages : 164
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Book Description
This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
Author: Ercan Özen
Publisher: Emerald Group Publishing
ISBN: 1800430973
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
Every day presents new challenges as the face of global economics changes. In this first book in the Emerald Studies in Finance, Insurance, and Risk Management, expert editors and contributors come together to discuss global response to new uncertainty and challenges.
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
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Book Description
"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.
