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The Correlations of the Equity Markets in Asia and the Impact of Capital Flow Management Measures

dc.contributor.authorPornpinun Chantapacdepong
dc.date.accessioned2017-11-29T19:13:10Z
dc.date.available2017-11-29T19:13:10Z
dc.date.issued2017-07-30
dc.identifier.urihttp://hdl.handle.net/11540/7628
dc.description.abstractThis paper examines the international transmission of volatility in the stock markets of countries in emerging Asian economies (EAEs). The time period of the study is from before the Asian financial crisis until after the global financial crisis. Over two decades the degree of volatility interdependence of equity markets among Asian economies has been increasing. There has been stronger financial integration during calm periods, which could intensify the contagion effects across markets during turbulent times. The equity markets of the EAEs exhibit stronger correlations during the global financial crisis, confirming the existence of contagion and the intensification of systemic risk. The introduction of capital flow management (CFM) measures is associated with a reduction in the volatility dependence within the region.
dc.languageEnglish
dc.publisherAsian Development Bank Institute
dc.titleThe Correlations of the Equity Markets in Asia and the Impact of Capital Flow Management Measures
dc.typeWorking Papers
dc.subject.expertADB
dc.subject.expertProject finance
dc.subject.expertDevelopment plans
dc.subject.expertStrategic planning
dc.subject.expertBusiness Financing
dc.subject.expertInvestment Requirements
dc.subject.expertInsurance Companies
dc.subject.expertInternational Monetary Relations
dc.subject.expertInternational Financial Market
dc.subject.expertExchange Rate
dc.subject.adbDevelopment
dc.subject.adbFinance
dc.subject.adbDevelopment Challenges
dc.subject.adbDevelopment Issues
dc.subject.adbDevelopment Problems
dc.subject.adbMicroenterprises Finance
dc.subject.adbCommercial Finance Companies
dc.subject.adbEnterprise Financing
dc.subject.naturalInsurers
dc.subject.naturalInsurance stocks
dc.subject.naturalInsurance holding companies
dc.subject.naturalInsurance carriers
dc.subject.naturalInsurance agencies
dc.subject.naturalBusiness subsidies
dc.subject.naturalInvestment companies
dc.subject.naturalForeign investment
dc.subject.naturalEquity Finance
dc.subject.naturalInternational banks and banking
dc.subject.naturalStock exchanges
dc.subject.naturalGrants
dc.subject.naturalLoans
dc.title.seriesADBI Working Paper Series
dc.title.volumeNo. 766
dc.contributor.imprintAsian Development Bank Institute
oar.themeDevelopment
oar.themeFinance
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-007229
oar.authorChantapacdepong, Pornpinun
oar.importTRUE
oar.googlescholar.linkpresenttrue


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    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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