Financial Crisis And Stock Market Integration

Download or read book Financial Crisis and Stock Market Integration written by Shikha Bhatia and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial integration of global markets has been an important topic of research and the behaviour of emerging markets is receiving even greater interest after the recent developments in financial markets across the world. The purpose of this article is to investigate the integration of the developed market of the US and emerging Asian stock markets before and after recent global financial crisis from the international portfolio diversification perspective. The study applies the concept of cointegration and uses Morgan Stanley Composite Index (MSCI) data for analysis, and the period of investigation is January 1992 to April 2014. The global indices which are sampled in the study are large and mid cap MSCI of USA, Japan, Singapore, Hong Kong and India. The findings of this study are very interesting and suggest the presence of strong long-term integration but the absence of short-term integration of Indian stock markets with global markets.