01850cas a2200265 a 4500 AALejournalIMF000153 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853285 1018-5941 BD-DhAAL BD-DhAAL Cashin, Paul. International Integration of Equity Markets and Contagion Effects / Paul Cashin, Manmohan Kumar, C. McDermott. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (58 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates empirically the degree of international integration of industrial and emerging country equity markets. It analyzes two issues: first, the extent to which equity prices have tended to move similarly across countries and regions in the long run; and second, the strength of cross-country 'contagion' effects. The paper's findings suggest that both intra-regional and inter-regional linkages across national equity markets have strengthened in recent years. In addition, using impulse response functions, the paper shows that cross-country contagion effects of country-specific shocks dissipate in a matter of weeks while contagion effects of global shocks take several months to unwind themselves. Mode of access: Internet Kumar, Manmohan. McDermott, C. IMF Working Papers; Working Paper ; No. 1995/110 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/110/001.1995.issue-110-en.xml IMF e-Library