By Thomas A. Fetherston, Jonathan A. Batten, T. a. Fetherston
The target of the amount is to supply a few heritage at the numerous monetary industry segments of the Asian Pacific sector. An realizing of institutional aspect (size and scope) of the correct markets offers a view that lends or detracts from the credibility of intermarket comparisons. An publicity and knowing of institutional element provides info which could undergo at the statistical result of the empirical research. The important roles performed bycapital markets of pricing capital, issuing new stocks, supplying a liquidity-creating secondary characteristic, serving as a automobile for asset move, and delivering a linkage to foreign capital markets are as vital to rising markets as to constructed nations.
Read Online or Download Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century, Volume 86 (Contemporary Studies in Economic and Financial Analysis) PDF
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Within this, however, a number of observations also suggest themselves. In the first half of the sample, seven countries (Hong Kong, Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand) have mean yen bilateral exchange 41 The Role of the Japanese Yen Table 3. Exchange rate Ch Correlations of Yen Bilateral Exchange Rates. 58 Note: The data source is Datastream International Ltd. It is the correlations of nominal yen bilateral exchange rates for the various countries. 54. 60. 44. 50.
The US Dollar, the German Deutschemark and the Pound Sterling Swiss Franc Bilateral Rates. structural breaks in the series. The Plaza dummy variable takes account of the Plaza Accord on the 4th October 1985 aimed at halting the rise of the US dollar. The Louvre dummy variable takes account of the Louvre Accord on the 6th March 1987 aimed at stabilising the foreign exchange value of the US dollar. 1 44 COLM KEARNEY AND CAL MUCKLEY Our specification is an improvement on the specifications of Frankel (1993) and Frankel and Wei (1994), which assume instantaneous interaction between the regional currencies and the important exogenous exchange rates.
Journal of Banking and Finance, 9, 55–72. , & Gencay, R. (2003). Scaling, self-similarity and multifractality in FX markets. Physica A, 323, 578–590. Yermack, D. (2001). Executive stock options: Puzzles, problems and mysteries. Working Paper, Stern School of Business. Zaleha, A. , Hamezah, M. , & Kaur, J. (2004). Effect of economic crisis period on the information content of intangible non-current assets in Malaysia. Working Paper. Universiti Kebangsaan Malaysia, Universiti Teknologi MARA. Zhou, S.