文章基本信息

标题：Financial Market Integration: Empirical Evidence from the Economic Cooperation of India and Pakistan
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作者：Sumra Latif ; S.M AhsanRizvi ; Muhammad Mubin 等
期刊名称：Journal of Economics and Sustainable Development
印刷版ISSN：2222-2855
电子版ISSN：2222-2855
出版年度：2014
卷号：5
期号：3
页码：100-110
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：The aim of this study was to explore the integration between financial markets of India and Pakistan with the help of economic cooperation among them. Monthly data from the period of January 2002 to December 2012, was applied for this stud, the data of Monthly stock price index and Trade was used. The results highlighted that there is cointegration between the two stock markets in short run, and as we have used 11 years data it is not appropriate to conclude the long run relationship on this basis, although the Johansen Cointegration test proves the presence of two cointegrating vectors. Therefore we may conclude that there is direct cause and effect relationship between stock markets of India and Pakistan with respect to trade and if the hindrances in trade are removed the financial markets will perform much better than now. Trade between India and Pakistan is of great importance for the development of both the nations as well as the regional development. There are ample opportunities available for the investors as well, they can reduce risk and earn higher returns by investing in each other’s markets. Key Terms: Financial Markets, Financial Markets Integration, Economic Cooperation, Cooperation versus Integration