05818oam 22012974 450 991082897470332120240402051227.01-4623-6283-41-4527-0769-31-282-84326-51-4518-7258-59786612843266(CKB)3170000000055265(EBL)1608295(SSID)ssj0000943256(PQKBManifestationID)11484315(PQKBTitleCode)TC0000943256(PQKBWorkID)10975385(PQKB)11447616(OCoLC)645513330(IMF)WPIEE2009111(MiAaPQ)EBC1608295(EXLCZ)99317000000005526520020129d2009 uf 0engurcn|||||||||txtccrSpillovers to Emerging Equity Markets : An Econometric Assessment /Tao Sun, L. Psalida1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (34 p.)IMF Working PapersDescription based upon print version of record.1-4519-1688-4 Includes bibliographical references.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 Estimation2. 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 CountriesVIII. Main Conclusions Annexes; I. Methodological Issues; II. Data and explanatory variables; ReferencesThis 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.IMF Working Papers; Working Paper ;No. 2009/111InvestmentsMathematical modelsEconometricsBanks and BankingimfFinance: GeneralimfInvestments: StocksimfGeneral Financial Markets: General (includes Measurement and Data)imfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfFinancing PolicyimfFinancial Risk and Risk ManagementimfCapital and Ownership StructureimfValue of FirmsimfGoodwillimfFinancial Markets and the MacroeconomyimfFinanceimfInvestment & securitiesimfFinancial services law & regulationimfStock marketsimfStocksimfEmerging and frontier financial marketsimfMarket riskimfMarket capitalizationimfFinancial marketsimfFinancial institutionsimfFinancial regulation and supervisionimfStock exchangesimfFinancial services industryimfFinancial risk managementimfUnited StatesimfInvestmentsMathematical models.Econometrics.Banks and BankingFinance: GeneralInvestments: StocksGeneral Financial Markets: General (includes Measurement and Data)Pension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsFinancing PolicyFinancial Risk and Risk ManagementCapital and Ownership StructureValue of FirmsGoodwillFinancial Markets and the MacroeconomyFinanceInvestment & securitiesFinancial services law & regulationStock marketsStocksEmerging and frontier financial marketsMarket riskMarket capitalizationFinancial marketsFinancial institutionsFinancial regulation and supervisionStock exchangesFinancial services industryFinancial risk management332.152Sun Tao1103303Psalida L1680600DcWaIMFBOOK9910828974703321Spillovers to Emerging Equity Markets4049405UNINA