LEADER 05774oam 22012734 450 001 9910788335103321 005 20230721045734.0 010 $a1-4623-6283-4 010 $a1-4527-0769-3 010 $a1-282-84326-5 010 $a1-4518-7258-5 010 $a9786612843266 035 $a(CKB)3170000000055265 035 $a(EBL)1608295 035 $a(SSID)ssj0000943256 035 $a(PQKBManifestationID)11484315 035 $a(PQKBTitleCode)TC0000943256 035 $a(PQKBWorkID)10975385 035 $a(PQKB)11447616 035 $a(OCoLC)645513330 035 $a(MiAaPQ)EBC1608295 035 $a(IMF)WPIEE2009111 035 $a(EXLCZ)993170000000055265 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSpillovers to Emerging Equity Markets : $eAn Econometric Assessment /$fTao Sun, L. Psalida 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (34 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1688-4 320 $aIncludes bibliographical references. 327 $aContents; 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 327 $a2. 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 327 $aVIII. Main Conclusions Annexes; I. Methodological Issues; II. Data and explanatory variables; References 330 3 $aThis paper shows that emerging market equity prices are influenced by growing global factors, and therefore global factors constitute a significant channel for spillovers when the international economic environment changes. Strengthening their resilience to equity price declines remains an important goal for emerging market economies. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/111 606 $aInvestments$xMathematical models 606 $aEconometrics 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aInvestments: Stocks$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aPension Funds$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aFinancial Instruments$2imf 606 $aInstitutional Investors$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aFinance$2imf 606 $aInvestment & securities$2imf 606 $aFinancial services law & regulation$2imf 606 $aStock markets$2imf 606 $aStocks$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aMarket risk$2imf 606 $aMarket capitalization$2imf 606 $aFinancial markets$2imf 606 $aFinancial institutions$2imf 606 $aFinancial regulation and supervision$2imf 606 $aStock exchanges$2imf 606 $aFinancial services industry$2imf 606 $aFinancial risk management$2imf 607 $aUnited States$2imf 615 0$aInvestments$xMathematical models. 615 0$aEconometrics. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aInvestments: Stocks 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aPension Funds 615 7$aNon-bank Financial Institutions 615 7$aFinancial Instruments 615 7$aInstitutional Investors 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aFinancial Markets and the Macroeconomy 615 7$aFinance 615 7$aInvestment & securities 615 7$aFinancial services law & regulation 615 7$aStock markets 615 7$aStocks 615 7$aEmerging and frontier financial markets 615 7$aMarket risk 615 7$aMarket capitalization 615 7$aFinancial markets 615 7$aFinancial institutions 615 7$aFinancial regulation and supervision 615 7$aStock exchanges 615 7$aFinancial services industry 615 7$aFinancial risk management 700 $aSun$b Tao$01103303 701 $aPsalida$b L$01472687 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788335103321 996 $aSpillovers to Emerging Equity Markets$93685556 997 $aUNINA