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Quelle convergence financière pour les pecos ?. Une analyse économétrique de l'évolution des marchés d'actions (1998-2003)

  • Christian Aubin
  • Jean-Pierre Berdot
  • Daniel Goyeau
  • Jacques Léonard
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    Looking for a common stochastic factor in the evolution of equity markets indexes for ceecs candidates in 2003 to the European Union, this paper inquires into some form of convergence between financial markets of these countries and between these markets and the European one. Taking into account the specific effects of monetary disturbances by expressing all market indexes in euro, we highlight a stochastic factor common to all ceecs markets, but not to an area including Euroland. This common trend can be interpreted with respect to the ongoing process of financial markets reforms.

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    Article provided by Presses de Sciences-Po in its journal Revue économique.

    Volume (Year): 56 (2005)
    Issue (Month): 1 ()
    Pages: 147-169

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    Handle: RePEc:cai:recosp:reco_561_0147
    Contact details of provider: Web page: http://www.cairn.info/revue-economique.htm

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