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Global and Regional Financial Integration in Emerging Asia: Evidence from Stock Markets

This paper employs a price-based measure of integration, namely stock return differentials between ten emerging Asian economies and the US (as an indicator of global integration), as well as Japan and the Asian region (as two alternative indicators of regional integration), to test for mean reversion and draw inference on financial integration. It makes a three-fold contribution: it uses not only aggregate ...

Stock Market Integration in Asia: Global or Regional? Evidence from Industry Level Panel Convergence Tests

This paper examines global and regional stock market integration in Asia at both the aggregate and disaggregate (industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised as follows. In the pre-2008 crisis period, no integration/convergence of any kind is found. By contrast, in the post-crisis period, the Asian stock markets appear ...

Marcel Fratzscher about the DIW Women's Finance Summit 2017

The conference will take place on May 23, 2017 at Deutsche Bank Berlin, Unter den Linden 13/15.Almost ten years after the crisis, the financial sector is still in the midst of a far-reaching transformational process. The macroeconomic environment and regulatory frameworks are changing quickly and profoundly, whereas new technologies are challenging established players – both from the public...

Gender Peer Effects, Non-Cognitive Skills and Marriage Market Outcomes: Evidence from Single-Sex Schools in the UK

Testing the Fisher Hypothesis in the G-7 Countries Using I(d) Techniques

This paper revisits the Fisher hypothesis by estimating fractional integration and cointegration models that are more general than the standard ones based on the classical I(0)/I(1) dichotomy. Two sets of results are obtained under the alternative assumptions of white noise and Bloomfield (1973) autocorrelated errors respectively. The univariate analysis suggests than the differencing parameter is ...

Elke Holst about the DIW Women's Finance Summit 2017

The conference will take place on May 23, 2017 at Deutsche Bank Berlin, Unter den Linden 13/15.Almost ten years after the crisis, the financial sector is still in the midst of a far-reaching transformational process. The macroeconomic environment and regulatory frameworks are changing quickly and profoundly, whereas new technologies are challenging established players – both from the public...

Cool to be Smart or Smart to be Cool? Understanding Peer Pressure in Education

BAMS is a joint seminar by the DIW Berlin, the Hertie School of Governance, the HU Berlin and the WZB.

A Retrospective Evaluation of the GDF/Suez Merger: Effects on Gas Hub Prices

We present an ex-post analysis of the effects of GDF’s acquisition of Suez in 2006 created one of the world’s largest energy companies. We perform an econometric analysis, based on Difference-in-Difference techniques on the market for trading on the Zeebrugge gas hub in Belgium. Removing barriers to entry and facilitating access to the hub through ownership unbundling were an important part of the ...

Livestream: DIW Women’s Finance Summit

DIW Women’s Finance Summit Structural Change in the Financial Sector – Women’s Perspectives Watch the conference via livestream. May 23, 2017 9:30 a.m. Venue: Deutsche Bank Berlin, Unter den Linden 13/15, 10117 Berlin With: Christine Lagarde, Viviane Reding, Sylvie Matherat, Axel A. Weber, Douglas Flint, Sandie O’Connor, Peter Grauer, Brenda Trenowden, Sir Philip Hampton, Marcel ...

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