Is there heterogeneity in financial integration dynamics ? Evidence from country and industry emerging market equity indexes

@inproceedings{Donadelli2015IsTH,
  title={Is there heterogeneity in financial integration dynamics ? Evidence from country and industry emerging market equity indexes},
  author={Michael Donadelli and Antonio Paradisob},
  year={2015}
}
This paper examines the dynamics of the financial integration process across equity markets in one global emerging region (Emerging) and three emerging sub-regions (Asia, Eastern Europe, Latin America) over the last two decades. The proportion of total variation in individual excess returns explained by the first principal component serves as a robust measure of integration. Financial integration is measured in the “national equity market” (market) and in ten different “industrial equity… CONTINUE READING

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