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Financial Markets Interdependence: Evidence from South and East Asian Countries
The aim of this study is to provide a clear picture of relationship between south and East Asian stock markets. Financial and economic literature discussed the financial market integration. The information easily transferred from one market to another due to financial market integration. The data is collected from respective financial market websites. GARCH 1, 1 model is used to develop the volatility series and Quantile regression is used to check the financial markets interdependence. The results show significance dependence between financial markets which means there is volatility transmission in these markets. The geographical proximity also associated with the volatility transmission. This study is helpful for the investors of South and Asian countries to check the stock market stability for making investment decision. The investors from the developing countries took help from this study if they are going to invest big.
Raja Muhammad Ahsan Ilyas
Lecturer, Department of Management Sciences, Mohi-ud-Din Islamic University Nerian Sharif, AJ&K, Pakistan
Dr. Abdul Ghafar Khan
Assistant Professor, Department of Management Sciences, Mohi-ud-Din Islamic university Nerian Sharif, AJ&K, Pakistan
Dr. Sehrish Kayani
Visiting Lecturer, Faculty of Management Sciences, National University of Modern Languages Islamabad, Pakistan