Stock market regulations and international financial integration: the case of Spain |
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| Authors: | J I Peña E Ruiz |
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| Institution: | 1. Departamento de Economía de la Empresa;2. Departamento de Estadistica y Econometría , Universidad Carlos III de Madrid , C/ Madrid 126–128, Getafe, Madríd, 28903, Spaín |
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| Abstract: | International financial integration effects on the Spanish stock market are studied, both for the conditional mean and conditional variance. New institutional regulations in Spain are taken into account and their efficiency consequences are addressed. Results suggest an increasing international integration but nontrivial opportunities for financial diversification may still be relevant. |
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| Keywords: | financial integration market reforms stochastic volatility |
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