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    Financial liberalisation: from segmented to integrated economies

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    10.1016-S0148-6195(03)00053-5.pdf (155.3Kb)
    Date Issued
    2003
    Author
    Taskin, F.
    Muradoglu, G.
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    Please cite this item using this persistent URL
    http://hdl.handle.net/11693/11294
    Journal
    Journal of Economics and Business
    Published as
    http://dx.doi.org/10.1016/S0148-6195(03)00053-5
    Collections
    • Department of Economics [152]
    Publisher
    Elsevier
    Abstract
    Capital market liberalisation transforms segmented stock markets into integrated ones. Further impact should be expected on the dynamics of the rest of the domestic economy. This study presents evidence to that effect. A significant change after liberalisation is the emergence of world returns as an influential factor on other economic fundamentals. The information content of world returns influences emerging market returns prior to capital market liberalisation and this relation continues after capital market liberalisation. What is new after liberalisation is the influence of world returns on the dynamics of the domestic economy as a whole and its relation to stock returns. © 2003 Elsevier Inc. All rights reserved.
    Citation
    Taskin, F., & Muradoglu, G. (2003). Financial liberalisation: from segmented to integrated economies. Journal of economics and business, 55(5), 529-555.

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    BİLKENT UNIVERSITY

    Copyright © Bilkent University - Library Technical Services | 06800 Bilkent, Ankara TURKEY
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