This paper measures integration of the world crude oil market using two so-called Thick Pen methods: the Thick Pen … instabilities in oil price relationships. The analysis overall supports the notion of the world oil market as one great pool …. However, there are still remarkable regional differences and dynamic developments. The notion of the world oil market as one …

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very … markets are on average larger and more liquid than before; returns are more volatile and more highly correlated with the world …

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very … markets are on average larger and more liquid than before; returns are more volatile and more highly correlated with the world …