Just recently global growth forecast for this year decreased to 3.3% by the projections of the International Monetary Fund. The recent strong fall of the exchange rate between Dollars and Euros is just the tip of the iceberg. Many economies use their currencies to gain trade advantages as well....

This paper measures the extent of comovements in stock returns between Korea and three major countries (China, Japan and the U.S.) using industry-level data for Korea from 2003 to 2016 in the spirit of the international capital asset pricing model. It also examines what drives the comovements...