This paper investigates the degree of integration of in the North American equity markets in the post NAFTA period, 1994 to 2006 and two sub post NAFTA period: 1994-1999 and 2000-2006 using daily stock closing price(s) indices. The Johansen and Juselius (1990) method for determining the presence...

The purpose of this paper is to examine the regional integration of national stock markets. Cluster analysis is utilised in order to determine whether returns generated in national stock markets form groupings. The results suggest that markets are segmented on a regional basis. This finding is...