China's financial market integration with the world
AbstractIt is commonly argued that China's financial markets are effectively insulated from the rest of the world. To see if this is true, and to better understand China's financial development, we analyse China's integration with major financial markets. Using conditional copulas, we show that China has experienced an increasing level of integration with several major financial markets during the last decade, albeit at a slow pace and from very low levels. Furthermore, the level of integration has increased with several major markets during the global financial crisis. The results and possible reasons for the increasing integration are analysed and the implications for policymakers and market participants are discussed.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Journal of Chinese Economic and Business Studies.
Volume (Year): 8 (2010)
Issue (Month): 3 ()
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Other versions of this item:
- Johansson, Anders C., 2009. "China'S Financial Market Integration With The World," Working Paper Series 2009-10, China Economic Research Center, Stockholm School of Economics.
- F30 - International Economics - - International Finance - - - General
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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