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- handle: 10670/1.hk5dzy
- hal: hal-04111626
info:eu-repo/semantics/OpenAccess
Mots-clés
Emerging markets Latin America Spain Stock markets interdependence VAR modeling C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes G - Financial Economics/G.G1 - General Financial Markets/G.G1.G15 - International Financial Markets O - Economic Development, Innovation, Technological Change, and Growth/O.O5 - Economywide Country Studies/O.O5.O54 - Latin America • CaribbeanSujets proches
Exchanges, Securities Stock-exchange Securities exchanges Equity markets Commercial corners Stock markets Bulls and bears Corners, Commercial Exchanges, StockCiter ce document
Andres Rivas et al., « The Increasing Impact of Spain on the Equity Markets of Brazil, Chile and Mexico », HAL-SHS : économie et finance, ID : 10670/1.hk5dzy
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Résumé
The article examines stock index price responses in Brazil, Chile and Mexico to those in the US, Spain and four European countries during three sub-periods surrounding the neoliberal reforms of the 1990s: 1988 to 1994, 1995 to 1998, and 1999 to 2004, using VAR modeling. It finds that equity markets became more interconnected as countries opened to international trade and capital flows, and that there was an increasing impact of Spain on Latin American equity markets. Stronger economic linkages (more trade and foreign direct investment) between Spain and these countries, specially in Brazil, seem to explain increased equity markets interconnectedness.