排序方式: 共有3条查询结果,搜索用时 15 毫秒
1
1.
The 1997 Asian crisis illustrated the need to develop local bond markets to reduce vulnerabilities to future mismatches in currency and maturity. This article examines a regional initiative – the Pan-Asian Bond Index Fund – and tests the implications for portfolio diversification. Intra- and inter-regional transmission of bond market volatilities between Hong Kong, Singapore and South Korea and from the United States and Japan is investigated. The results show that since Hong Kong and Singapore are highly integrated into global capital markets, the prospects of diversification of investment become undermined. The study provides evidence to assist policy makers in designing bond-index funds as a strategy for portfolio diversification to promote regional bond markets. 相似文献
2.
REGIONAL INTEGRATION OF EQUITY MARKETS IN SUB-SAHARAN AFRICA 总被引:1,自引:0,他引:1
JENIFER PIESSE BRUCE HEARN† 《The South African journal of economics. Suid-afrikaanse tydskrif vir ekonomie》2005,73(1):36-52
Equity markets in developing and emerging economies have grown in number and importance as a result of financial market globalisation. However, their role in economic growth and development is enhanced if nascent markets are integrated with well‐established ones. Market integration, measured by the transmission of returns volatility, is identified across a sample of SSA countries, using a unique dataset. Evidence for potential integration between financial markets in Sub‐Saharan Africa (SSA) is found. Spillovers are found across markets, some unidirectional and others bi‐directional. However, continued illiquidity and incomplete institutions indicate that an integrated financial community remains premature, and considerable regulatory reform and harmonisation will be necessary for this to succeed. 相似文献
3.
1