| Financial Integration Among the ASEAN 5 ＋ 3 Stock Markets： A Preliminary Look at the First 10 Years of the New Millenium |
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| 作者姓名： | Leila C. Kabigting Rene B. Hapitan |
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| 作者单位： | [1]University of Guam, Guam, USA [2]iACADEMY School of Business, Manila, Philippines |
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| 摘 要： | The purpose of this study is to investigate the financial integration of the stock markets of the ASEAN 5 ＋ 3 countries. These countries include Indonesia, Malaysia, Philippines, Singapore, Thailand, China, Japan, and South Korea. The research determined the stock return volatility for each country＇s index during the first decade of the new millennium. The findings showed that there is the presence of integration and co-integration with Philippine index＇s return with the index＇s returns of the following countries： Indonesia, Singapore, and Thailand. Furthermore, there is evidence of volatility clustering in these stock markets. The study concluded with the policy implications of greater integration in light of the planned cross trading among four ASEAN bourses, namely, Philippines, Singapore, Thailand, and Malaysia by 2012.
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| 关 键 词： | 一体化 股市 东盟 金融 马来西亚 市场波动 整合计划 印度尼西亚 |
Financial Integration Among the ASEAN 5 ＋ 3 Stock Markets： A Preliminary Look at the First 10 Years of the New Millenium |
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| Leila C. Kabigting,Rene B. Hapitan.Financial Integration Among the ASEAN 5 ＋ 3 Stock Markets： A Preliminary Look at the First 10 Years of the New Millenium[J].Chinese Business Review,2013(5):305-314. |
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| Authors: | 《Chinese Business Review》 |
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| Abstract: | ASEAN 5 ＋ 3, financial integration, stock markets, stock return volatility, global financial crisis, cross border ownership |
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| Keywords: | ASEAN 5 ＋ 3 financial integration stock markets stock return volatility global financial crisis cross border ownership |
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