The international transmission of stock market fluctuation between the developed markets and the Asian-Pacific markets

Stephen Y L Cheung; Billy S C Mak

doi:10.1080/758527545

The international transmission of stock market fluctuation between the developed markets and the Asian-Pacific markets

Stephen Y L Cheung, Billy S C Mak

Research output: Contribution to journal › Journal article › peer-review

100 Citations (Scopus)

Abstract

The study is derived from the weekly return series of the Asian-Pacific emerging markets. The causal relationship between these markets and the two developed markets, US and Japan, is examined for the years 1977 through 1988. The US market can be considered as a ‘global factor’ and is found to lead most of the Asian-Pacific emerging markets with the exception of three relatively closed markets: Korea, Taiwan and Thailand. The Japanese market is found to have a less important influence on the Asian-Pacific emerging markets.

Original language	English
Pages (from-to)	43-47
Number of pages	5
Journal	Applied Financial Economics
Volume	2
Issue number	1
DOIs	https://doi.org/10.1080/758527545
Publication status	Published - 1 Mar 1992

Scopus Subject Areas

Finance
Economics and Econometrics

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10.1080/758527545

Cite this

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The international transmission of stock market fluctuation between the developed markets and the Asian-Pacific markets

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