The purpose of this paper is to investigate long run relationship between developed, emerging and frontier markets of Europe. The paper applies Zivot and Andrews unit root test to examine stationarity of index series in the existence of a structural break. To account for instability in the...

Purpose The purpose of this paper is to investigate the long-run equilibrium relationship between developed, emerging and frontier markets of the Asia-Pacific region during January 2000 to June 2016. Design/methodology/approach Zivot and Andrews’ unit root test is used to examine the existence...