Carrieri, Francesca; Chaieb, Ines; Errunza, Vihang - In: Review of Financial Studies 26 (2013) 7, pp. 1694-1739
Market liberalization may not result in full market integration if implicit barriers are important. We test this proposition for investable and non-investable segments of twenty-two emerging markets (EMs). We also measure the degree of integration for six major developed markets (DMs) as a...