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Stock market development and integration in SADC (Southern African Development Community)
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(1994)Another look at the role of the industrial structure of markets for international diversification strategies1We are especially grateful to Pat Casey and Virge Cavalli at Dow Jones for providing the Dow Jones World Stock Index data and for their assistance with numerous queries. We gratefully acknowledge the comments of Geert Bekaert, William Brigham, Shane Corwin, Steve Foerster, Jeff Harris, Steve Heston, Ajay Khorana, David Mayers, John Persons, René Stulz, and particularly, the referee (Geert Rouwenhorst) and editor (John Long). We also thank participants at the University of Alberta, University of Toronto and Ohio State University, the 1996 UBC Global Investment Conference (Whistler), 1996 International Finance Conference (Georgia Tech), 1996 Western Finance Association Conference, and 1996 Financial Management Association Conference for helpful suggestions. Karolyi thanks the Dice Center for Financial Economics and the Social Sciences and Humanities Research Council of Canada for financial support.1 (1998)The rise in comovement across national stock markets: market integration or IT bubble? 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References

  • 1990MAXIMUM LIKELIHOOD ESTIMATION AND INFERENCE ON COINTEGRATION — WITH APPLICATIONS TO THE DEMAND FOR MONEY14,047 cited
  • 1995Time‐Varying World Market Integration2,152 cited
  • 1993Galton's Fallacy and Tests of the Convergence Hypothesis1,750 cited
  • 2009International comovement of stock market returns: A wavelet analysis843 cited
  • 2009Global market integration: An alternative measure and its application☆621 cited
  • 2002Dating the integration of world equity markets561 cited
  • 2004Measuring financial integration in the euro area534 cited
  • 2002Stock market linkages: Evidence from Latin America421 cited
  • 2000The Rise of Sector Effects in Major Equity Markets310 cited
  • 2003Stock market integration and financial crises: the case of Asia307 cited
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  • 2007Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges260 cited
  • 2011African financial systems: A review248 cited
  • 2003The Euro-area Financial System: Structure, Integration, and Policy Initiatives241 cited
  • 2010Assessing financial market integration in Asia – Equity markets230 cited

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  • 2011Do market capitalization and stocks traded converge? New global evidence228 cited
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