DYNAMIC INTEGRATION AND SEGMENTATION AMONG EQUITY MARKETS OF OECD COUNTRIES

Possibility of Trade Integration among Selected Islamic Countries

Integration of Croatian, Cee and Eu Equity Markets: Cointegration Approach

This paper examines bilateral and multilateral integration of equity markets of selected Central and Eastern European countries including Croatia, and German equity market for the period of January 2nd, 1997 to June 10th, 2005. Application of the Johansen cointegration procedure indicates existence of multilateral integration between equity markets of analyzed CEE economies, as well as between ...

Regional Integration of Equity Markets in Sub-Saharan Africa

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 uniqu...

Productivity and Equity Returns: a Century of Evidence for 9 Oecd Countries

The share market boom in the 1990s is often linked to the acceleration in labour productivity over the same period. This paper explores the suggestions that labour productivity may be an inaccurate measure of firm’s cash flow which underlies equity valuations, and that innovations in productivity in the 1990s may have had only have temporary effects on capital productivity, the key element of t...

Evidence from OECD Countries

In this paper we use a representative consumer model to analyse the equilibrium relation between the transitory deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for both stock returns and housing returns. The evidence based on data for 15 OECD countries shows that when agents expect future stock returns to be higher, the...