Testing for Stock Market Integration in a Developing Economy: Colombia
| Data(s) |
01/08/2006
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|---|---|
| Resumo |
This paper examines the linkage between two parallel stock exchanges trading the same shares in Colombia, namely the Bogotá Stock Exchange and the Medellín Stock Exchange. We provide empirical evidence to support the hypothesis that these two markets can be best described as fully integrated over a period of almost four decades, which is consistent with the view that arbitrage opportunities are only possible in the short but not in the long run. In addition, we find evide |
| Formato |
application/pdf |
| Identificador | |
| Publicador |
Facultad de Economía |
| Relação |
Economía. Documentos de trabajo, No. 4 1 https://ideas.repec.org/p/col/000092/003560.html |
| Direitos |
info:eu-repo/semantics/openAccess |
| Fonte |
instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR instname:Universidad del Rosario |
| Palavras-Chave | #Bolsa de valores -- Colombia #Mercado de valores -- Colombia #Mercado de capitales -- Colombia #332.642 #Stock market #Cointegration #Arbitrage #Colombia |
| Tipo |
info:eu-repo/semantics/book info:eu-repo/semantics/acceptedVersion |
