Equity market integration in the Asia-Pacific region: A smooth transition analysis |
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Authors: | Patricia Chelley-Steeley |
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Affiliation: | Department of Accounting, Finance and Law, Aston Business School, Aston University, Birmingham B4 1AL, UK |
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Abstract: | We use a smooth transition logistic function to test for equity market integration in a sample of Asia-Pacific countries. This allows us to gauge the speed at which a market is becoming integrated. Of the countries we examine we find that Thailand has the fastest pace of global integration. When we examine the extent to which local integration is taking place, we find that Singapore is experiencing the fastest rise in market integration. |
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Keywords: | G10 |
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