Long run behaviour of Pacific-Basin stock prices
- 1 February 1995
- journal article
- research article
- Published by Informa UK Limited in Applied Financial Economics
- Vol. 5 (1), 11-18
- https://doi.org/10.1080/758527666
Abstract
In this paper, we investigate the long run relationship among five major Pacific-Basin stock markets. We focus on the common long run behaviour of their stock price indices over a sample period of 20 years. Using cointegration theory, we find that while there exists a rather integrated Pacific Basin financial area, the regional aspects (Asian versus Pacific) play important roles.Keywords
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