Decouplinge integraçãoentreos mercados acionáriosdos BRICS
The growth of trade among emerging countries and a consequent increase in the flow of capital has resulted in the hypothesis of the increasement of financial integration between these nations and their respective stock markets. At the same time, it was observed a significant difference of economic p...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2017 |
| País: | Brasil |
| Institución: | Universidade Federal de Minas Gerais (UFMG) |
| Repositorio: | Repositório Institucional da UFMG |
| Idioma: | portugués |
| OAI Identifier: | oai:repositorio.ufmg.br:1843/61180 |
| Acceso en línea: | http://hdl.handle.net/1843/61180 |
| Access Level: | acceso abierto |
| Palabra clave: | Decoupling Mercados Acionários Integração Financeira BRICS Finanças Internacionais Mercado de capitais Países do BRICS Finanças internacionais Ações (Finanças) |
| Sumario: | The growth of trade among emerging countries and a consequent increase in the flow of capital has resulted in the hypothesis of the increasement of financial integration between these nations and their respective stock markets. At the same time, it was observed a significant difference of economic performance between emerging and developed countries, known as decoupling. This research aims to investigate if there is a decoupling phenomenon between the BRICS stock market and the US market and if this phenomenon can be explained by the integration among the BRICS market from 2003 until october 2012. Among the results, there were found evidences of: (i) a possible decoupling among the performances of BRICS and US market, mainly from 2003 to 2006; (ii) a significant influence of the integration between BRICS market on the identified decoupling; and (iii) important changes on the results before and after the financial crisis of 2008. These results support the hypothesis that the recent interaction between the emerging markets has produced a group factor that has generated significantly different performances from developed countries |
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