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Record Nr. |
UNINA9910970779403321 |
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Autore |
Sun Tao |
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Titolo |
Spillovers to Emerging Equity Markets : : An Econometric Assessment / / Tao Sun, L. Psalida |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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9786612843266 |
9781462362837 |
1462362834 |
9781452707693 |
1452707693 |
9781282843264 |
1282843265 |
9781451872583 |
1451872585 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (34 p.) |
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Collana |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Investments - Mathematical models |
Econometrics |
Banks and Banking |
Capital and Ownership Structure |
Emerging and frontier financial markets |
Finance |
Finance: General |
Financial institutions |
Financial Instruments |
Financial Markets and the Macroeconomy |
Financial markets |
Financial regulation and supervision |
Financial Risk and Risk Management |
Financial risk management |
Financial services industry |
Financial services law & regulation |
Financing Policy |
General Financial Markets: General (includes Measurement and Data) |
Goodwill |
Institutional Investors |
Investment & securities |
Investments: Stocks |
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Market capitalization |
Market risk |
Non-bank Financial Institutions |
Pension Funds |
Stock exchanges |
Stock markets |
Stocks |
Value of Firms |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Performance of Emerging Market Equity Markets; Figures; 1. Selected Equity Market Indices; 2. Emerging Market Economies: Composition of Capital Inflows; 3. Current Account Balances and Capital Flows from a Global Perspective; 4. Stock Market Capitalization; 5. Total Equity Market Returns; 6. Emerging Market Economies: Price/Earnings Ratios; 7. Total Foreign Holdings of Equity; 8. Emerging Markets Equity Indices and Foreign Investor Presence; Tables; 1. Emerging Equity Market Peaks and Troughs: Current and Previous Episodes; III. Methodology of Panel Estimation |
2. Unit Root Tests 3. Pedroni Heterogeneous Panel Co-integration Tests; IV. Results of the Panel Estimation; 4. Fixed-Effects Panel Least-Squares Estimation, First Specification; 5. Fixed-Effects Panel Least-Squares Estimation, Second Specification; V. Scenarios of impact; 6. Effects of External Shocks on the Growth Rates of Emerging Market Equity Prices; VI. Contribution of domestic and external factors; VII. Vector Auto-regression Model and results; 7. Contribution of Global and Domestic Factors to Equity Price Changes; 9. Impulse Responses to the Global Shocks for the Seven Countries |
VIII. Main Conclusions Annexes; I. Methodological Issues; II. Data and explanatory variables; References |
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Sommario/riassunto |
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This paper shows that emerging market equity prices are influenced by growing global factors, and therefore global factors constitute a significant channel for spillovers when the international economic environment changes. Strengthening their resilience to equity price declines remains an important goal for emerging market economies. |
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