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Does the financial integration in ASEAN + 3 respond to financial cooperation agreement and influence the real sectors?

Rahman, Md S. and Shahari, Farihana (2019) Does the financial integration in ASEAN + 3 respond to financial cooperation agreement and influence the real sectors? Review of Pacific Basin Financial Markets and Policies, 22 (1). ISSN 0219-0915 E-ISSN 1793-6705 (In Press)

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Abstract

This paper aims to investigate the degree of financial integration by employing Markov Switching (MS) technique. It further examines the influence of financial integration on the real sectors by employing GMM approach. The finding indicates following outcomes; (1) the financial markets of ASEAN+3 economies are weakly integrated during pre-agreement periods; (2) the degree of financial integration improves during post-agreement period in which financial integration has positive influence on the real economy; (3) higher degree of financial integration indicates a positive influence on the real economies. Finally, this study offers policy implication for stabilizing the real economy.

Item Type: Article (Journal)
Additional Information: 7791/72630
Uncontrolled Keywords: ASEAN + 3; Financial integration; Ggeneralized method of moments (GMM); Markov Switching approach; Real economy
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences
Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Farihana Shahari
Date Deposited: 01 Aug 2019 08:40
Last Modified: 01 Aug 2019 08:40
URI: http://irep.iium.edu.my/id/eprint/72630

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