Exchange Rate Movements and International Interdependence of Stock Markets.
This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic effec...
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| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
1989.
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| Серія: | IMF Working Papers; Working Paper ;
No. 1989/044 |
| Онлайн доступ: | Full text available on IMF |