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Published:
Aug 8, 2022Article Details
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Main Article Content
Integration and Informational Efficiency for Local and Regional Equity Markets During the Subprime Crisis
Abstract
Objective: To study the link between the market integration and informational efficiency in the local and regional market, while taking into account the global financial crisis.
Method: The pooled ordinary least squares (OLS),
Results: the markets that are more integrated with the US market are also more efficient. This association lost its explanatory power during the crisis period than their developed counterparts.
Originality / relevance:the first study to examine the integration and efficiency of local and regional markets taking into account periods of crisis.
French title: Intégration et efficience informationnelle des marchés locaux et régionaux pendant la crise de subprimes
Objectif : Etudier le lien entre l’intégration et l’efficience informationnelle sur le marché local et régional, tout en tenant compte de la crise de subprimes.
Méthode : Moindre carré ordinaire : MCO
Résultats : Les marchés les plus intégrés au marché américain sont également plus efficients. Cette association a perdu son pouvoir explicatif pendant la période de crise que leurs homologues développés.
Originalité / pertinence : La première étude qui examine l’intégration et l'efficience des marchés locaux et régionaux en tenant compte des périodes de crise.
