Are Asian Markets Integrated? Evidence for Six Countries Vis-A-Vis Japan
AbstractThis paper presents some empirical evidence on the degree of integration between the goods and financial markets of Japan and six Asian countries. The evidence is obtained by testing two international parity conditions using unconventional specifications: uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The results of cointegration tests are strongly supportive of the two conditions over the period 1980-1994. The paper concludes that Asian goods and financial markets have reached a high level of integration. [G14]
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Economic Journal.
Volume (Year): 11 (1997)
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