Smyth, R.; Nandha, M. - In: Applied Economics Letters 10 (2003) 11, pp. 699-704
This article examines the relationship between exchange rates and stock prices in Bangladesh, India, Pakistan and Sri Lanka using daily data over a six-year period from 1995 to 2001. Both the Engle-Granger two-step and Johansen cointegration methods suggest that there is no long-run equilibrium...