There are pros and cons for different countries to join a union and adopt a common currency. The European economic and monetary union is viewed to generate fewer costs and deliver greater benefits to its members. Several studies evaluate whether natural currency areas emerge based on historical...

Rapid growth and low correlations between emerging markets in the South-East Asian region can offer higher returns and lower portfolio risk for international investors. This paper examines the linkages between the stock markets of the Association of Southeast Asian Nations’ (ASEAN) five...

This paper examines the dynamics of price transmissions between the South Korean shares and its American Depository Receipts (ADRs) for individual firms and a portfolio of all firms using a vector autoregressive (VAR) model in a cointegration framework. The results show a long-run cointegrating...