This paper examines global and regional stock market integration in Asia at both the aggregate and disaggregate … (industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised … Telecommunication, both in a turn-around phase, and Gas & Oil and Technology, for which there is no panel convergence. Club convergence …

America, Asia and MENA). It covers the period 1979-2004, and carries out “second-generation” tests for non-stationary panels …

emerging Asia there is more regional than global integration, and that the former has become even stronger in the post-2008 …

distinct impact of financial integration and globalization on several dimensions of real activity. We find that: financial … financial integration predict better growth prospects; both advances in financial integration and globalization are associated … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …

grouped into three regions (Latin America, Asia and MENA). Our findings suggest that different types of shocks (external, real …

by applying “second generation” panel cointegration techniques. A unique identification strategy for the selection of sub …‐panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable …

fractional integration and fractional cointegration techniques. These methods are more general and have higher power than the … both the S&P 500 Index and the Euro Stoxx 50 Index. Also, fractional cointegration appears to hold at least for the … diverging growth and monetary policy. Establishing whether the degree of cointegration has changed over time is important since …

implements the panel-data approach of Kónya (2006), which is based on SUR systems and Wald tests with country-specific bootstrap …