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首页> 外文期刊>International Review of Financial Analysis >Equity market integration in Central European emerging markets: A cointegration analysis with shifting regimes
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Equity market integration in Central European emerging markets: A cointegration analysis with shifting regimes

机译:中欧新兴市场的股票市场整合:制度变迁的协整分析

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摘要

We investigate the existence of long-run relations between emerging Central European stock markets and the mature stock markets of Europe and the United States. Allowing for instability in these long-run relations, we obtain evidence of links between the Central European markets that is stronger than has previously been reported. We also show that the Central European markets display equilibrium relations with their mature counterparts, which persist after controlling for structural changes. It follows that Central European markets have become more integrated with global markets.
机译:我们研究了新兴的中欧股市与欧美成熟股市之间的长期关系。考虑到这些长期关系中的不稳定因素,我们获得了中欧市场之间的联系比以前报道的更强大的证据。我们还表明,中欧市场与成熟的市场显示出均衡的关系,在控制了结构性变化之后这种关系仍然存在。因此,中欧市场已经与全球市场更加融合。

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