Howard, Stacia and Craigwell, Roland (2010): Convergence of Caribbean Stock Exchanges. Forthcoming in:
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This paper uses daily data for market returns as well as for the cross-listed securities on the three main stock exchanges in the Caribbean: the Barbados Stock Exchange, the Trinidad and Tobago Stock Exchange and the Jamaica Stock Exchange to examine the beta-convergence and sigma-convergence of the markets. The results suggest that with respect to sigma-convergence, while the markets are becoming increasingly integrated, the convergence of the returns of the cross-listed securities is debatable, indicating some degree of information asymmetry. The results of the beta-convergence imply that the speed of convergence is still rather slow in comparison to other markets throughout the world.
|Item Type:||MPRA Paper|
|Original Title:||Convergence of Caribbean Stock Exchanges|
|Keywords:||Stock Exchanges; Convergence; Caribbean|
|Subjects:||O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
G - Financial Economics > G2 - Financial Institutions and Services > G29 - Other
O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O54 - Latin America; Caribbean
|Depositing User:||Roland Craigwell|
|Date Deposited:||29. Aug 2012 04:31|
|Last Modified:||20. Feb 2013 09:13|
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