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Stock market integration of mainland China is analyzed before and after the liberalization of Chinese stock exchange segments. We apply a causalityin-variance procedure, using four mainland China stock market indices, two indices of the stock exchange in Hong Kong and the Dow Jones Industrial...
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(Shanghai and Shenzhen) over 2 January 2001 to 8 February 2013 suggest: (1) evidence of unidirectional return spillovers from …
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fixed costs with exporting or foreign ownership in other firms. Using data on 8,959 firms located in Shanghai, we find that … contagion and spillovers in exporting and in foreign ownership decisions within an area of 10 miles in the city of Shanghai …
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