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Has entry to the European Union altered the dynamic links of stock returns for the emerging markets?

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  • Tomoe Moore
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    Abstract

    This article investigates the impact of the entry to the European Union (EU) on the dynamic links between the stock market indices of Czech Republic, Hungary, Poland and Slovakia vs. those of the euro-zone by utilizing the international version of the feedback-trading model. Prior to entry, there was evidence of feedback trading with the euro-zone, however, this disappeared in the post-entry period with the exception of Slovakia. Evidence appears to demonstrate the emergence of financial integration of these transition economies within the EU.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Financial Economics.

    Volume (Year): 17 (2007)
    Issue (Month): 17 ()
    Pages: 1431-1446

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    Handle: RePEc:taf:apfiec:v:17:y:2007:i:17:p:1431-1446

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    Cited by:
    1. Ping Wang & Tomoe Moore, 2008. "Stock Market Integration For The Transition Economies: Time-Varying Conditional Correlation Approach," Manchester School, University of Manchester, vol. 76(s1), pages 116-133, 09.
    2. Demian, Calin-Vlad, 2011. "Cointegration in Central and East European markets in light of EU accession," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(1), pages 144-155, February.
    3. Moore, Tomoe & Wang, Ping, 2014. "Dynamic linkage between real exchange rates and stock prices: Evidence from developed and emerging Asian markets," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 1-11.

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