Equity market integration in the Asia-Pacific region: a smooth transition analysis

Patricia L. Chelley-Steeley*

*Corresponding author for this work

Research output: Contribution to journalArticle

Abstract

We use a smooth transition logistic function to test for equity market integration in a sample of Asia-Pacific countries. This allows us to gauge the speed at which a market is becoming integrated. Of the countries we examine we find that Thailand has the fastest pace of global integration. When we examine the extent to which local integration is taking place, we find that Singapore is experiencing the fastest rise in market integration. © 2004 Published by Elsevier Inc.

Original languageEnglish
Pages (from-to)621-632
Number of pages12
JournalInternational Review of Financial Analysis
Volume13
Issue number5
DOIs
Publication statusPublished - 2004

Fingerprint

Singapore
Integrated
Asia-Pacific region
Market integration
Asia-Pacific
Smooth transition
Global integration
Logistics
Thailand
Equity market integration

Bibliographical note

The papers in this special issue have been selected from the symposium on International Equity Integration, held in the Institute for International Integration Studies at Trinity College Dublin on 9th June 2003

Keywords

  • equity market integration
  • international diversification
  • logistic trend function

Cite this

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Equity market integration in the Asia-Pacific region : a smooth transition analysis. / Chelley-Steeley, Patricia L.

In: International Review of Financial Analysis, Vol. 13, No. 5, 2004, p. 621-632.

Research output: Contribution to journalArticle

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