The November 2014 Shanghai-Hong Kong Stock Connect represented an important step in China's capital account liberalization, allowing relatively free movement of investor funds between the two markets for the first time. We offer an initial quantification of the effects of the new program,...

This paper applies a variety of short-run and long-run time series techniques to data on a broad group of Asia-Pacific stock markets and the United States extending to 2010. Our empirical work confirms the importance of crises in affecting the persistence of equity returns in the Asia-Pacific...

This paper applies a variety of short‐run and long‐run time series techniques to data on a broad group of Asia‐Pacific stock markets and the United States extending to 2010. Our empirical work confirms the importance of crises in affecting the persistence of equity returns in the...