ARCH modelling framework of Engle (1982) and its GARCH generalization of Bollerslev (1986) gave a huge impetus to econometric model building in the field of financial time series with time-varying variance. The main idea of the models was to describe the most typical features of capital markets...

This study aims to examine the dependence pattern of stock returns prevailing in developing and developed countries. To check the dependence pattern, this study choose sample dataset of stock returns from time span of 2009 to 2019 from stock exchange institutes of Pakistan, Indonesia, Germany...