TY - JOUR
T1 - The impact of asian crisis on market integration
T2 - Evidence from east asian real interest rates
AU - Ji, Philip Inyeob
PY - 2011/2
Y1 - 2011/2
N2 - This article examines the linkage of real interest rates for a group of East Asian countries. Monthly real interest rates data are considered for the USA, Japan, Korea, Singapore and Thailand from 1980 to 2005. It is found that the degree of capital market integration has increased after the Asian financial crisis in 1997. Before the crisis, both the US and Japanese capital markets dominated the region. After the crisis, the dominance of the Japanese market has completely disappeared while the US market remains the sole dominant player. Also it appears that Korea was insulated from the regional market influence before the crisis.
AB - This article examines the linkage of real interest rates for a group of East Asian countries. Monthly real interest rates data are considered for the USA, Japan, Korea, Singapore and Thailand from 1980 to 2005. It is found that the degree of capital market integration has increased after the Asian financial crisis in 1997. Before the crisis, both the US and Japanese capital markets dominated the region. After the crisis, the dominance of the Japanese market has completely disappeared while the US market remains the sole dominant player. Also it appears that Korea was insulated from the regional market influence before the crisis.
UR - http://www.scopus.com/inward/record.url?scp=79251575925&partnerID=8YFLogxK
U2 - 10.1080/13504851003596038
DO - 10.1080/13504851003596038
M3 - Article
AN - SCOPUS:79251575925
SN - 1350-4851
VL - 18
SP - 245
EP - 249
JO - Applied Economics Letters
JF - Applied Economics Letters
IS - 3
ER -