This paper utilizes cointegration and vector autoregression (VAR) to assess integration or segmentation of the Malaysian equity market both prior to the Asian crisis and after the imposition of capital controls. We consider both regional and international financial forces represented...

This study examines market co-movements in Islamic and mainstream equity markets across different regions in order to discover contagion during 9 major crises and to measure integration between markets. Using wavelet decomposition to unveil the multi-horizon nature of co-movement, we find that...

This paper assesses the effectiveness of both financial depth and financial inclusion in the mitigation of output volatility during the Global Financial crisis. In addition to their direct relations, the paper also evaluates whether finance will be more effective in countries with more developed...