Equity Markets & the Economy
β Scribed by John Muellbauer
- Book ID
- 108557804
- Publisher
- John Wiley and Sons
- Year
- 2001
- Tongue
- English
- Weight
- 98 KB
- Volume
- 25
- Category
- Article
- ISSN
- 0140-489X
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This paper investigates the integration of the equity market in Pakistan with those in other countries. In this context, seven major equity markets, that is, the markets of USA, UK, France, Germany, Japan, Hong Kong, and Singapore were selected for the analysis. The integration was examined through
The Consumption Capital Asset Pricing Model (C-CAPM) is tested using data on equity prices in Jordan, Turkey, and Pakistan over the period 1986 -1993. The analysis is carried out in two steps. The parameters of agents' dynamic consumption and investment decisions are first estimated, and then the im