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|c 5.00 USD
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|z 9781451856743
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Brooks, Robin.
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|a The Rise in Comovement Across National Stock Markets :
|b Market Integration or Global Bubble? /
|c Robin Brooks, Marco Del Negro.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2002.
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|a 1 online resource (23 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The degree of comovement across national stock markets has increased dramatically since the mid-1990s. This has overturned a stylized fact in the international portfolio diversification literature that diversifying across countries is more effective for risk reduction than diversifying across industries. We investigate if this rise in comovement is a permanent phenomenon driven by greater economic and financial integration, or a temporary effect associated with the recent stock market bubble. At the global level, our results point to the bubble. At a regional level, we find evidence of a significant rise in market integration within Europe, possibly a reflection of institutional changes such as the EMU.
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|a Mode of access: Internet
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|a Del Negro, Marco.
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|a IMF Working Papers; Working Paper ;
|v No. 2002/147
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2002/147/001.2002.issue-147-en.xml
|z IMF e-Library
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