The Gains and Pains of Financial Integration and Trade Liberalization

Bhattacharyya, Rajib

doi:10.1108/9781789739992

Cited by 4 publications

(2 citation statements)

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“…When there is commotion one can say that there is correlation between the time series. Time series if they are negatively correlated, it means that both are moving in opposite directions, and conversely, a positive correlation will mean that the variables are moving in the same direction over time (Bhattacharyya, 2019;Kotu & Deshpande, 2019). Existing empirical studies on market integration generally tend to show that high comovement may translate into a high degree of integration.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Empirically, the term integration can be defined as the situation in which individual series that are nonstationary when linearly combined become stationary. In this sense, to assess the degree of integration between two markets, it is currently customary to estimate the differences between the averages of the series prices and assess whether this difference remains constant, i.e., whether it deviates in opposite directions in a long-term perspective, because if financial markets tend toward integration, prices will eventually return to a balanced situation (Bhattacharyya, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

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Cryptocurrencies and G7 capital markets integrate in periods of extreme volatility?

Horta¹,

Dias²,

Revez³

et al. 2022

J Process Man & New Technol

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The purpose of this study is to examine the synchronism between the US capital markets (DJ, S&P 500), the United Kingdom (FTSE 100), Canada (S&P/TSX), Germany (DAX 30), France (CAC 40), Japan (Nikkei 225), Italy (Italy Ds Market and major cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and the Crypto 10 index, from February 2018 to November 2021. Based on the findings, we found that BTC and ETH cryptocurrencies drastically reduced their level of integration with their peers over the 2020 worldwide pandemic era, whereas LTC maintained. We also discovered that the Dow Jones, S&P 500, and DAX 30 stock indexes lowered their level of integration when compared to the pre-covid subperiod. For the UK capital market (FTSE 100), Canada (S&P/TSX), Japan (Nikkei 225), France (CAC 40), and Italy (Italy Ds Market) the level of integration increased significantly. These findings support, in part, our research question, that during periods of stress and uncertainty in the global economy capital markets tend towards integration, thus calling into question the hypothesis of efficient portfolio diversification.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Cryptocurrencies and G7 capital markets integrate in periods of extreme volatility?

Horta¹,

Dias²,

Revez³

et al. 2022

J Process Man & New Technol

View full text Add to dashboard Cite

show abstract

E-Financial Strategies for Sustainable Development: Empirical Evidence from India

Sharma,

Meenakshi,

Bala

et al. 2024

Sustainable Finance

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Foreign Direct Investment (FDI), Investment in Construction and Poverty in Economic Crises (Denmark, Italy, Germany, Romania, China, India and Russia)

Sukhadolets¹,

Stupnikova

Fomenko

et al. 2021

Economies

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This study aims to examine the impact of foreign direct investment (FDI), investment in construction and poverty in various countries. The Russian Federation invests heavily in construction and it is located both in Europe and Asia. Russia is usually described as a European country (while 70% of its territory is in Northern Asia, 80% of the population resides in Europe). That is why in this document both developed and emerging countries are considered; the former are represented by the EU members of different economic levels and the latter by BRICS countries. We looked at economically different countries to determine the best differentiated data in order to answer the question: “Why does a high level of poverty persist in Russia if Russian officials have repeatedly reaffirmed their commitment to the implementation of the Sustainable Development Goals (SDGs) by investing heavily in construction and attracting FDI?”. For the estimation, we used an autoregressive distributed lag (ARDL), considering cointegration and heteroscedasticity, in which the current values of the series depend both on the past values of this series and on the current and past values of other time series. Having received statistical data, we were able to compare the economic development of countries with some economic growth theories. 4–5% FDI share of the GDP helps to contain the negative impact of financial crises. Investment in construction supports the economies of countries in the long term and maintains or reduces the poverty level by increasing the assets of the population. Empirical data also helped us to evaluate the economic growth patterns and poverty in these seven countries. China and the Russian Federation will find themselves at different “poles”. China uses several theories and models simultaneously for economic development and poverty reduction and the Russian Federation does not keep to an established theory or a model of economic growth.

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The Gains and Pains of Financial Integration and Trade Liberalization

Cited by 4 publications

References 0 publications

Cryptocurrencies and G7 capital markets integrate in periods of extreme volatility?

Cryptocurrencies and G7 capital markets integrate in periods of extreme volatility?

E-Financial Strategies for Sustainable Development: Empirical Evidence from India

Foreign Direct Investment (FDI), Investment in Construction and Poverty in Economic Crises (Denmark, Italy, Germany, Romania, China, India and Russia)

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