An Intertemporal Model of International Capital Market Segmentation

1996 ◽  
Vol 31 (2) ◽  
pp. 161 ◽  
Author(s):  
Suleyman Basak
Keyword(s):  
Market Segmentation ◽  
Capital Market ◽  
International Capital ◽  
International Capital Market ◽  
Capital Market Segmentation ◽  
Intertemporal Model

Do Indirect Investment Barriers Contribute to Capital Market Segmentation?

2004 ◽  
Vol 39 (3) ◽  
pp. 613-630 ◽  
Author(s):  
George P. Nishiotis
Keyword(s):  
Market Segmentation ◽  
Capital Market ◽  
Emerging Market ◽  
Capital Inflow ◽  
Deterrent Effect ◽  
Free Access ◽  
International Capital ◽  
Capital Market Segmentation ◽  
Closed End Funds ◽  
Investment Barriers

AbstractUsing a sample of emerging market closed-end funds, I find evidence that indirect investment barriers exert powerful effects on asset pricing differences across countries. I show that not only do indirect investment barriers contribute to international capital market segmentation, but also they can lead to segmentation even in the absence of strong capital inflow restrictions. This result is consistent with Bekaert and Harvey's (1995) conclusion that “other markets appear segmented even though foreigners have relatively free access to their capital markets” (p. 403). The empirical results of this paper provide a rational market segmentation explanation of both premiums and discounts in emerging market closed-end funds, and they are consistent with the deterrent effect of indirect barriers on equity flows to emerging markets found in the capital flow literature.

Using chaos measures to examine international capital market integration

1996 ◽  
Vol 6 (2) ◽  
pp. 91-101 ◽  
Author(s):  
Susan P. Sewell ◽  
Stanley R. Stansell ◽  
Insup Lee ◽  
Scott D. Below
Keyword(s):  
Capital Market ◽  
Market Integration ◽  
International Capital ◽  
International Capital Market ◽  
Capital Market Integration
Sign in / Sign up

Export Citation Format

Share Document