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Pregled bibliografske jedinice broj: 296442

Croatian Equity Market in Perspective of European Integration


Broz, Tanja; Ridzak, Tomislav
Croatian Equity Market in Perspective of European Integration // Emerging Markets Letters, 1 (2007), 1; 25-37 (podatak o recenziji nije dostupan, članak, znanstveni)


Naslov
Croatian Equity Market in Perspective of European Integration

Autori
Broz, Tanja ; Ridzak, Tomislav

Izvornik
Emerging Markets Letters (1749-995X) 1 (2007), 1; 25-37

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Equity market integration; Impulse responses; Variance decomposition; Croatia

Sažetak
Croatia is on its path to the EU. Developments on this path have influence on many aspects in the economy. In this paper we analyse integration of Croatian equity market with European and world equity markets and measure integration with the VAR impulse responses and variance decomposition. The premise is that well integrated markets should respond to shocks similarly. According to this test, major world markets (measured by DJIA, FTSE and DAX) indeed display certain degree of shock transmission. Opposite, Croatian and other less important markets in CEE economies that were tested do not show the same degree of integration. It seems that in terms of transfer of short term shocks between markets, Croatia and other CEE economies are still pretty much isolated from the world.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekt / tema
002-0022469-2470 - Makroekonomska konvergencija Republike Hrvatske Europskoj uniji (Željko Lovrinčević, )

Ustanove
Ekonomski institut, Zagreb