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dc.contributor.authorParakash, Vineesh
dc.contributor.authorNauriyal, D.
dc.contributor.authorKaur, Sandeep
dc.date.accessioned2019-03-26T09:03:44Z
dc.date.available2019-03-26T09:03:44Z
dc.date.issued2017
dc.identifier.citationPrakash, Vineesh J., Nauriyal, D.K., and Kaur, Sandeep (2017). Assessing Financial Integration of BRICS Equity Markets: An Empirical Analysis. Emerging Economy Studies. Vol. 3(2), PP.127–138. https://doi.org/10.1177/2394901517730734en_US
dc.identifier.issnOnline- 24542148
dc.identifier.issnPrint-23949015
dc.identifier.urihttp://kr.cup.edu.in/handle/32116/2181
dc.description.abstractThis article examines the degree of financial integration among the equity markets of Brazil, Russia, India, China, and South Africa (BRICS) by using monthly data collected for the period 2005–2014. The study employs Johansen cointegration test, vector error correction model (VECM), and Granger causality test which confirm the existence of relationship in the short and long run among the equity markets of BRICS. Further results exhibit that there exists cointegration or a long-run relationship among the equity markets, but weak cointegration, though the results of Granger causality test do not display existence of any causality among market pairs such as China–Brazil, Russia–Brazil, South Africa–Brazil, Russia–China, and South Africa–India. The results indicate that even though the financial integration among the equity markets of BRICS is on ascendance, it is yet incomplete. This work suggests harmonization of laws, regulations, and operations based on international principles and appropriate regulatory supervision among BRICS nations in order to minimize the risk of financial integration, besides further relaxing restrictions on capital account for expedited financial integration.en_US
dc.language.isoen_USen_US
dc.publisherSage Publicationen_US
dc.subjectFinancial integrationen_US
dc.subjectBRICSen_US
dc.subjectJohansen cointegration testen_US
dc.subjectEquity marketen_US
dc.titleAssessing Financial Integration of BRICS Equity Markets an Empirical Analysis, Emerging Economics Studiesen_US
dc.typeArticleen_US
dc.identifier.doi10.1177/2394901517730734
dc.identifier.urlhttps://journals.sagepub.com/doi/abs/10.1177/2394901517730734
dc.title.journalEmerging Economies Studiesen_US
dc.type.accesstypeopen Accessen_US


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