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Title: |
Are Asian Markets Integrated? Evidence for Six
Countries Vis-a-Vis Japan |
| Author: |
Moosa, Imad A.;
Bhatti, Razzaque H. |
| Author
Affiliation: |
La Trobe U; U
Azad Jammu & Kashmir |
| Source: |
International Economic Journal, Spring 1997, v. 11, no. 1, pp. 51-67 |
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Publication Date: |
Spring 1997 |
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Abstract: |
This paper presents some empirical
evidence on the degree of integration between the goods and financial
markets of Japan and six Asian countries. The evidence is obtained by
testing two international parity conditions using unconventional
specifications: uncovered interest parity (UIP) and ex ante purchasing
power parity (PPP). The results of cointegration tests are strongly
supportive of the two conditions over the period 1980-1994. The paper
concludes that Asian goods and financial markets have reached a high
level of integration. |
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