By Thomas A. Fetherston, Jonathan A. Batten, T. a. Fetherston
The target of the quantity is to supply a few history at the quite a few monetary industry segments of the Asian Pacific sector. An realizing of institutional element (size and scope) of the proper markets provides a view that lends or detracts from the credibility of intermarket comparisons. An publicity and figuring out of institutional aspect provides info that can endure at the statistical result of the empirical research. The important roles performed bycapital markets of pricing capital, issuing new stocks, delivering a liquidity-creating secondary function, serving as a automobile for asset move, and delivering a linkage to overseas capital markets are as very important to rising markets as to built international locations.
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Additional info for Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century, Volume 86 (Contemporary Studies in Economic and Financial Analysis)
Chicago: University of Chicago Press. Fratzscher, M. (2002). Financial market integration in Europe: On the effects of EMU on stock markets. International Journal of Finance and Economics, 7, 165–193. Gan, W. B. (2000). Exchange-rate policy in East Asia after the fall: How much have things changed? Journal of Asian Economics, 11(4), 403–430. Griffin, J. , & Karolyi, G. A. (1998). Another look at the role of industrial structure of markets for international diversification. Journal of Financial Economics, 50, 351–373.
It follows that trade integration amongst these countries within the region has risen by 16 per cent over the last two decades of the 1900s. 9 per cent in 2000. 4 per cent) in 2000. This is a 60 per cent increase in its degree of regional trade integration. It has done this while also increasing its integration with the United States by almost 16 per cent, increasing its integration with Germany from a low base, and maintaining its low degree of integration with the United Kingdom. By contrast, almost all countries in the region (the exception being Korea) have reduced their proportions of trade with Japan – by more than 30 per cent, from an average of 20 per cent to 14 per cent.
Generally speaking, other than the fluctuation rate of GDP, the analysis and results of Mann-Whitney U Test and Intervention Analysis proved to be unanimous. Even so, a relationship does not exist between the financial reform variables (legal effectiveness, overdue loan ratio (NPL) in the banking industry, capital adequacy ratio, financial innovation, number of individuals employed in the finance industry, and mergers and numbers of financial departments) and macro-economic variables (fluctuation rate of GDP, stock index, exchange rate, CPI and fluctuation rate of the unemployment rate) for the 10 Eastern Asian countries.