Comments to " a Decomposition of Global Linkages in Financial Markets "

Objective of the project Measure changes in cross country asset returns correlations in the recent years of financial integration and understand their determinants Method-Let X i t and X j t be the weekly asset returns in country i and country j-Let β ijt be the contemporaneous (partial) correlation between the two asset returns in period t The correlation is partial as the authors want to control for global and sectoral shocks that are likely to affect both returns.