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Capital Market Integration of Pakistan

Author

Listed:
  • Ikram Ullah Khan

    (Institute of Management Sciences, Peshawar)

  • Laila taskeen Qazi

    (Institute of Management Sciences, Peshawar)

Abstract

The study aims to analyze co integration between Pakistan and its ten trading partners namely US, China, UK, Germany, India, Hong Kong, Korea, Japan, Malaysia and Singapore. The sample time period is composed of daily data of stock indices for the period ranging from May 1, 2000 to May 31, 2012 which was further reduced to January 4, 2010 to May 31, 2012 due to the existence of structural breaks found through the use of Chow test. By applying pair wise Johansen Co integration technique four co integrating relationship has been identified between Pakistan and its trading partners including US, UK, Japan and Korea. The study has implication for stock market investors in terms of international diversification.

Suggested Citation

  • Ikram Ullah Khan & Laila taskeen Qazi, 2012. "Capital Market Integration of Pakistan," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 4(2), pages 1-13, October.
    • Handle: RePEc:bec:imsber:v:4:y:2012:i:2:p:1-13
    DOI: dx.doi.org/10.22547/BER/4.2.1
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    File URL: http://imsciences.edu.pk/files/journals/Vol.%204.%20No.%202%20October%202012/(1)%20Ikram%20Ullah%20&%20Laila%20Taskeen%20Qazi.pdf
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