On the efectiveness of several market integration measures: an empirical analysis

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dc.contributor.author Pardo, Ángel
dc.contributor.author Balbás, Alejandro
dc.contributor.author Meneu, Vicente
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía de la Empresa
dc.date.accessioned 2010-01-20T07:54:11Z
dc.date.available 2010-01-20T07:54:11Z
dc.date.issued 1999-05
dc.identifier.uri http://hdl.handle.net/10016/6516
dc.description.abstract Many market integration measures are operationalized to compute their numerical values during a period characterized by the lack of stability ad market turmoil. The results of the tests give their degree of effectiveness, and reveal that the measures based on the principles of asset valuation, versus statistical measures, more clearly yield the level of integration of financial markets. Besides, cross market arbitrage-linked measures and equilibrium models-linked measures provide complementary information and reflect different properties, and consequently, both types of measures may be useful in practice.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Business Economics
dc.relation.ispartofseries 99-35-08
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Market integration
dc.subject.other Measures of integration
dc.subject.other Statistical techniques
dc.subject.other Principles of asset valuation
dc.subject.other Law of one price
dc.subject.other Arbitrage
dc.subject.other IBEX-35
dc.subject.other Future contract
dc.title On the efectiveness of several market integration measures: an empirical analysis
dc.type workingPaper
dc.subject.eciencia Empresa
dc.rights.accessRights openAccess
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