Abstract
Emerging stock markets are one of the best areas for investment and have become more accessible to investors in recent years thanks to successive efforts to open up these markets. These markets not only offer investors generous returns and opportunities but also enable them to better diversify their portfolios. These efforts recently led to a significant increase in capital flows toward the region and a rise in emerging market capitalization that reached around 20 percent of world market capitalization in 2000. This also has a considerable impact on the emerging stock market industry. Indeed, in addition to the significant increase in the financial integration of emerging markets into the world market (Bekaert and Harvey 1995), the adjustment dynamics of their asset prices is almost simultaneously governed by internal, regional, and external economic, financial, and political factors (Adler and Qi 2003; Carrieri et al. 2007).
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© 2011 Mohamed El-Hedi Arouri and Fredj Jawadi
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Arouri, M.EH., Jawadi, F. (2011). Essays in Nonlinear Financial Integration Modeling: The Philippine Stock Market Case. In: Gregoriou, G.N., Pascalau, R. (eds) Financial Econometrics Modeling: Derivatives Pricing, Hedge Funds and Term Structure Models. Palgrave Macmillan, London. https://doi.org/10.1057/9780230295209_6
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DOI: https://doi.org/10.1057/9780230295209_6
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