Financial integration for emerging economies should be seen as a long-term objective. In this
paper, we examine stock market integration among five selected emerging stock markets (…

… Massomeh hajilee is an assistant professor of economics in the School of Business
Administration at the University of houston-Victoria. Omar M. Al Nasser is an assistant professor of …

This study is the first to examine the impact of the shadow economy on financial market inclusion
simultaneously examining the short run and the long run. Using annual data from 1980 …

… The second, which can determine the long-run relationship between the variables, is the
sign and significance level of E C M t − 1 9 or error-correction term. Significant and negative …

International trade is said to be the engine of economic growth. Despite an enormous effort
to explain this phenomenon, the relationship between financial market development and …

… MOhSEN BahMaNI-OSKOOEE aND MaSSOMEh hajIlEE … Massomeh hajilee is a Ph.D.
candidate at the University of … Baum, CF; Caglayan, M.; and Barkouslas, jT “Exchange Rate …

The relationship between exchange rate uncertainty and domestic investment has attracted
some attention in macro literature. Previous studies that investigated the relation …

… This relationship is stablished if all variables are integrated of order m, or I (m), however, the
residuals should have integrations order in an order smaller than m. For instance, in case of …

The advocates of the efficient market hypothesis recommend buying the market index for the
long run, the implication for the Portuguese investors are to buy the PSI-20 index and hold it …

The main purpose of this paper is to assess the impact of financial market development on
Foreign Direct Investment (FDI) in Latin American countries. Financial market development …