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Financial Market Integration


  • Bappaditya Mukhopadhyay

    (Bappaditya Mukhopadhyay is at the India Development Foundation,Gurgaon, India. E-mail:


In this paper we address some key issues regarding financial market integration. We consider regional indices, country indices as well as sectoral indices for the period 1995–2008. Our main findings are: one, market integration is more prominent among markets, which are at comparable development stage; two, market integration is mostly lead by developed markets; and three, the emerging markets are more vulnerable than the developed markets during times of distress.

Suggested Citation

  • Bappaditya Mukhopadhyay, 2009. "Financial Market Integration," Review of Market Integration, India Development Foundation, vol. 1(1), pages 37-60, April.
  • Handle: RePEc:sae:revmar:v:1:y:2009:i:1:p:37-60

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    Cited by:

    1. repec:eco:journ1:2017-03-89 is not listed on IDEAS
    2. Daniel Agyapong, 2014. "Stock Market Integration in West African Monetary Zone: A Linear and Nonlinear Cointegration Approach," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(5), pages 563-587, May.
    3. Dr. Ranjan Dasgupta, 2014. "Integration and Dynamic Linkages of the Indian Stock Market with Bric - An Empirical Study," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(6), pages 715-731, June.
    4. Anil Sharma & Neha Seth, 2012. "Literature review of stock market integration: a global perspective," Qualitative Research in Financial Markets, Emerald Group Publishing, vol. 4(1), pages 84-122, April.

    More about this item


    Stock market integration; financial distress; JEL Classification: G01; JEL Classification: G15;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets


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