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Testing Stock Markets’ Integration From Central And Eastern European Countries Within Euro Zone

Author

Listed:
  • CHIRILA, Viorica

    (“Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest)

  • CHIRILA, Ciprian

    (“Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest)

Abstract

Stock market integration gives the opportunity of risk diversification on international level. The main effects of this integration are the development of stock markets and economic growth. This paper analyses the integration of stock markets from Central and Eastern Europe using convergence. Beta-convergence gives us information about integration’s speed and sigmaconvergence presents information about the degree of integration of stock markets from Central and Eastern Europe on the stock market of Euro Zone.

Suggested Citation

  • CHIRILA, Viorica & CHIRILA, Ciprian, 2014. "Testing Stock Markets’ Integration From Central And Eastern European Countries Within Euro Zone," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 18(3), pages 76-88.
  • Handle: RePEc:vls:finstu:v:18:y:2014:i:3:p:76-88
    as

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    References listed on IDEAS

    as
    1. Shackman, Joshua D., 2006. "The equity premium and market integration: Evidence from international data," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 16(2), pages 155-179, April.
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    3. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian T. & Siegel, Stephan, 2013. "The European Union, the Euro, and equity market integration," Journal of Financial Economics, Elsevier, vol. 109(3), pages 583-603.
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    More about this item

    Keywords

    return; beta convergence; sigma convergence;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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