, by analyzing the comovements of real interest rates. The paper uses cointegration and error correction models and draws … inferences on the degree of capital market integration by looking at the speed of adjustment of real interest rates following a … shock. The results show that there has been an increase in capital market integration with both U.S. and Japan during the …

region-Algeria, Libya, Mauritania, Morocco, and Tunisia. Financial integration within the Maghreb region will help deepen … role for the global financial integration of the Maghreb region. This paper provides an overview of the financial systems …, takes stock of the reform effort and highlights the challenges ahead, and examines the prospects for financial integration …

We assess the degree of cross-market price discrepancy (a proxy for market integration), its evolution over time, and … that cross-market price integration is positively associated with the level of transportation infrastructure, and distance … between market pairs. There is no robust evidence that price integration has increased in recent years, suggesting that any …

In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … country stock price indices, including that of the United States, Canada, the United Kingdom, France, Germany, and Japan are …

A cross-country comparative analysis shows that there is substantial room for further integration of China into global …, notably the foreign exchange market. Even though the increased integration of China into international capital markets would …

We estimate calories available to workers' households in the USA, Belgium, Britain, France and Germany in 1890/1. We …