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East Asian financial integration: a cointegration test allowing for structural break and the role of regional institutions


Citation

Ibrahim, Saifuzzaman (2009) East Asian financial integration: a cointegration test allowing for structural break and the role of regional institutions. International Journal of Economics and Management, 3 (1). pp. 184-203. ISSN 1823-836X

Abstract

This study investigates the progress of ASEAN+3 financial markets integration after the 1997 Asian financial crisis. Adopting a Gregory and Hansen (1996) cointegration test that takes into account structural break of the series, this study finds no significant improvement in the intraregional financial market integration after the crisis. This may imply that measures that were introduced and implemented in the aftermath of the 1997 crisis may have not effectively affect the region’s financial market integration. Several factors attribute to this including the differences in the ASEAN+3’s institutional and legal frameworks.


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Official URL or Download Paper: http://econ.upm.edu.my/ijem/vol3_no1.htm

Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
Publisher: Faculty of Economics and Management, Universiti Putra Malaysia
Keywords: East Asia; Financial market integration; Cointegration; Regional institutions
Depositing User: Nabilah Mustapa
Date Deposited: 03 Aug 2015 04:52
Last Modified: 03 Aug 2015 04:52
URI: http://psasir.upm.edu.my/id/eprint/39458
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