Abstract
![CDATA[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 and the United States. Using data from 1994 to 2003 the paper employs both correlation, causality and co-integration analysis to describe the behaviour 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 run relationships between each of the Asian markets and the relationship between these markets and the markets of advanced industrial nations? Secondly, what are the dynamic long-run relationships between the above Asian equity markets and advanced markets? Thirdly, have the expected benefits to a foreign investor from the US or Australia investing in Asian equity markets changed since the Asian financial crisis of 1997.]]
Original language | English |
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Title of host publication | Proceedings of the Emerging Financial Markets and Services in Asia-Pacific Conference, held in Sydney, N.S.W., 27-28 May, 2004 |
Publisher | University of Western Sydney |
Number of pages | 22 |
ISBN (Print) | 1741080479 |
Publication status | Published - 2004 |
Event | Emerging Financial Markets and Services in Asia-Pacific Conference - Duration: 1 Jan 2004 → … |
Conference
Conference | Emerging Financial Markets and Services in Asia-Pacific Conference |
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Period | 1/01/04 → … |
Keywords
- stock exchanges
- Asia
- cointegration
- finance
- financial crises
- international business enterprises