Testing Stock Market Price Index Convergence: Evidence from OECD Countries
The stock market is one of the most important infrastructures for economic development in developing and developed countries. The convergence of stock market returns reflects the interdependence of the economies of countries and the mobility of capital among them. This study aims to test the stock m...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
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Allameh Tabataba'i University Press
2018-12-01
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| Series: | فصلنامه پژوهشهای اقتصادی ایران |
| Subjects: | |
| Online Access: | https://ijer.atu.ac.ir/article_10151_4a60a8e9a63555db17196d1034b7fd9d.pdf |
| _version_ | 1827393189494915072 |
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| author | behnaz nanavay sabegh ali fegheh majidi ahmad mohammadi |
| author_facet | behnaz nanavay sabegh ali fegheh majidi ahmad mohammadi |
| author_sort | behnaz nanavay sabegh |
| collection | DOAJ |
| description | The stock market is one of the most important infrastructures for economic development in developing and developed countries. The convergence of stock market returns reflects the interdependence of the economies of countries and the mobility of capital among them. This study aims to test the stock market price index convergence between OECD countries Philips and sul (2007) methodology over the period January 2007-Februrary 2017. The results show that the stock markets do not form a convergent cluster. However, there are three convergent clubs with one divergent market, Luxemburg. Also, the result of convergence test among clusters represents that the first and second clusters form a convergent cluster. |
| first_indexed | 2024-03-08T17:44:36Z |
| format | Article |
| id | doaj.art-222e820ad898407f8ea2a792fd82deb0 |
| institution | Directory Open Access Journal |
| issn | 1726-0728 2476-6445 |
| language | fas |
| last_indexed | 2024-03-08T17:44:36Z |
| publishDate | 2018-12-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | فصلنامه پژوهشهای اقتصادی ایران |
| spelling | doaj.art-222e820ad898407f8ea2a792fd82deb02024-01-02T10:29:31ZfasAllameh Tabataba'i University Pressفصلنامه پژوهشهای اقتصادی ایران1726-07282476-64452018-12-01237716919410.22054/ijer.2018.1015110151Testing Stock Market Price Index Convergence: Evidence from OECD Countriesbehnaz nanavay sabegh0ali fegheh majidi1ahmad mohammadi2M.A of Economics, University of Kurdistan, Kurdistan, IranAssistant Professor of Department of Economics, University of Kurdistan, Kurdistan, IranAssistant Professor of Department of Economics, University of Kurdistan, Kurdistan, IranThe stock market is one of the most important infrastructures for economic development in developing and developed countries. The convergence of stock market returns reflects the interdependence of the economies of countries and the mobility of capital among them. This study aims to test the stock market price index convergence between OECD countries Philips and sul (2007) methodology over the period January 2007-Februrary 2017. The results show that the stock markets do not form a convergent cluster. However, there are three convergent clubs with one divergent market, Luxemburg. Also, the result of convergence test among clusters represents that the first and second clusters form a convergent cluster.https://ijer.atu.ac.ir/article_10151_4a60a8e9a63555db17196d1034b7fd9d.pdfconvergencestock marketcluster approachoecd |
| spellingShingle | behnaz nanavay sabegh ali fegheh majidi ahmad mohammadi Testing Stock Market Price Index Convergence: Evidence from OECD Countries فصلنامه پژوهشهای اقتصادی ایران convergence stock market cluster approach oecd |
| title | Testing Stock Market Price Index Convergence: Evidence from OECD Countries |
| title_full | Testing Stock Market Price Index Convergence: Evidence from OECD Countries |
| title_fullStr | Testing Stock Market Price Index Convergence: Evidence from OECD Countries |
| title_full_unstemmed | Testing Stock Market Price Index Convergence: Evidence from OECD Countries |
| title_short | Testing Stock Market Price Index Convergence: Evidence from OECD Countries |
| title_sort | testing stock market price index convergence evidence from oecd countries |
| topic | convergence stock market cluster approach oecd |
| url | https://ijer.atu.ac.ir/article_10151_4a60a8e9a63555db17196d1034b7fd9d.pdf |
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