01730cas a2200253 a 4500 AALejournalIMF022333 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874419 1018-5941 BD-DhAAL BD-DhAAL Del Negro, Marco. International Stock Returns and Market Integration : A Regional Perspective / Marco Del Negro, Robin Brooks. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (28 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 We investigate the relative importance of country and industry effects in international stock returns, with the innovation that we decompose country effects into region and within-region country effects. We divide the global stock market into the Americas, Asia, and Europe and find that most of the variation explained by country effects is actually due to region effects. Over time, these region effects have fallen. Within regions, however, only in Europe has segmentation declined, while it has increased elsewhere. Europe is also the only region where industry effects are now robustly more important than country effects. Mode of access: Internet Brooks, Robin. IMF Working Papers; Working Paper ; No. 2002/202 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/202/001.2002.issue-202-en.xml IMF e-Library