LEADER 03466nam 2200637Ia 450 001 9910828974703321 005 20200520144314.0 010 $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(IMF)WPIEE2009111 035 $a(MiAaPQ)EBC1608295 035 $a(EXLCZ)993170000000055265 100 $a20041202d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSpillovers to emerging equity markets $ean econometric assessment /$fprepared by L. Effie Psalida and Tao Sun 205 $a1st ed. 210 $a[Washington D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (34 p.) 225 1 $aIMF working paper ;$vWP/09/111 300 $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 paper ;$vWP/09/111. 606 $aInvestments$xMathematical models 606 $aEconometrics 615 0$aInvestments$xMathematical models. 615 0$aEconometrics. 676 $a332.152 700 $aPsalida$b L. Effie$01763906 701 $aSun$b Tao$01103303 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910828974703321 996 $aSpillovers to emerging equity markets$94204578 997 $aUNINA