In this paper, we examine convergence of stock markets. Our empirical exercise is based on 11 different panels, which together consist of countries. The richness of the dataset allows us to disaggregate countries into panels, such as high income, middle income, low income, OECD, CSI, and developing country panels.

In addition, we construct regional panels, such as those representing the Arab States, East Asia and the Pacific, South Asia, Latin America and the Caribbean, and Sub-Saharan Africa. Our main finding is that, based on the conditional convergence model, convergence of stock market capitalization and stocks traded is found for four panels, namely the high and low-income panels, the OECD panel, and the Sub-Saharan African panel.

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Convergence Stock markets Market capitalization Stocks traded Panel data ; Other versions of this item: Find related papers by JEL classification: References References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Increasing Tail Dependence ," CREA Discussion Paper Series , Center for Research in Economic Analysis, University of Luxembourg.

Increasing Tail Dependence ," LSF Research Working Paper Series , Luxembourg School of Finance, University of Luxembourg. A study of dual-listed Canadian stocks ," Journal of Empirical Finance , Elsevier, vol. Non-Convergence Across Countries and Regions ," CEPR Discussion Papers , C. Non-convergence across countries and regions ," Economics Working Papers , Department of Economics and Business, Universitat Pompeu Fabra, revised Jun Links and Messages ," Brookings Papers on Economic Activity , Economic Studies Program, The Brookings Institution, vol.

Baumol, William J, What the Long-run Data Show ," American Economic Review , American Economic Association, vol. What the Long Run Data Show ," Working Papers , C.

Do Market Capitalisation and Stocks Traded Converge? New Global Evidence

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Do Market Capitalization and Stocks Traded Converge? New Global Evidence by Paresh Kumar Kumar Narayan, Sagarika Mishra, Seema Narayan :: SSRN

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Narayan, Paresh Kumar Mishra, Sagarika Narayan, Seema.

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