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This paper assesses the evolving efficiency status of Southeast Asian (SEA) 'tiger cub' stock markets. The weak-form efficient market hypothesis (EMH) is examined using daily price index data and variance ratio tests from 2000 to 2012. We also explore two diverse sub-periods of economic activity...
Persistent link: https://www.econbiz.de/10010944860
The purpose of this paper is to analyse the behaviour of four Southeast Asian stock markets during the intervals of high uncertainties that accompany crises. Our analysis emphasises the effect of unexpected volatility shifts on market efficiency of the four emerging Southeast Asian markets over...
Persistent link: https://www.econbiz.de/10011266448
This study uses factor analysis to simplify the complex relationships among stock markets and to reduce the number of markets required for portfolio construction. Our sample consists of the US and 11 Asia-Pacific stock markets. We find that the reduced portfolio obtained from factor analysis has...
Persistent link: https://www.econbiz.de/10008755259
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Persistent link: https://www.econbiz.de/10001585527
Philippines and Thailand), there were considerable differences both in terms of instantaneous impact of the crisis and in terms of … impact on more open economies (Malaysia and Thailand). Second, countercyclical fiscal stimulus in Indonesia and the … Philippines was larger and was sustained longer. Third, idiosyncratic factors pushed output up in Indonesia and down in Thailand …
Persistent link: https://www.econbiz.de/10010790382
Persistent link: https://www.econbiz.de/10012433030
: the Philippines and Thailand. While education raises the propensity to prepare against disasters, we further find that the … Thailand but there is no evidence that education is mediated through other observable channels in the Philippines. This in turn …
Persistent link: https://www.econbiz.de/10011417772
Aggregate labor productivity (ALP) growth - i.e., growth of output per unit of labor - may be decomposed into additive contributions due to within-sector productivity growth effect, dynamic structural reallocation effect (Baumol effect), and static structural reallocation effect (Denison effect)...
Persistent link: https://www.econbiz.de/10011421209
Commodity prices have become volatile over the past 2 decades, and their recent sharp decline has decreased the consumer price index inflation rates for most economies. While many Asian economies have benefited from low international oil and food prices, commodity exporters have suffered. Thus,...
Persistent link: https://www.econbiz.de/10011688716