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 journalArticlepeer-review


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
Issue number5
Publication statusPublished - 2004

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


  • equity market integration
  • international diversification
  • logistic trend function


Dive into the research topics of 'Equity market integration in the Asia-Pacific region: a smooth transition analysis'. Together they form a unique fingerprint.

Cite this