Change search
ReferencesLink to record
Permanent link

Direct link
Has the Euro Boosted Equity Markets in the Euro Area?
University West, Department of Economics and IT.ORCID iD: 0000-0002-5176-9253
2012 (English)In: Journal of Business Administration Research, ISSN 1927-9515, Vol. 1, no 2, 51-70 p.Article in journal (Refereed) Published
Abstract [en]

This paper analyses the impact of the Euro on the development of equity markets in the Euro area and compares the results with those of the United States, UK, and Japan. Specifically, using data on 11 EMU countries from 1990-2010, we examine the impact of the Euro on different measures of stock market size, market liquidity, and concentration. It then uses a variety of ARFIMA and GARCH models to test whether the volatility returns have decreased following the introduction of the Euro. We found that the Euro enhances the depth and the liquidity in Euro area equity markets and that concentration and the unconditional volatility of returns have significantly increased in most Euro area equity markets. Furthermore, although our results identify the United States, Italy, Greece, and Euronext as the fastest growing markets on aggregate, it identifies Ireland and Germany as the lowest growing markets when information on market size, liquidity measures, volatility, and concentration measures.

Place, publisher, year, edition, pages
Sciedu Press , 2012. Vol. 1, no 2, 51-70 p.
Keyword [en]
Keywords: Liquidity, Concentration, ARFIMA and GARCH
National Category
Research subject
URN: urn:nbn:se:hv:diva-4761DOI: 10.5430/jbar.v1n2p51OAI: diva2:562366
Available from: 2012-12-20 Created: 2012-10-24 Last updated: 2016-06-01Bibliographically approved

Open Access in DiVA

Has the Euro Boosted.pdf(3277 kB)146 downloads
File information
File name FULLTEXT01.pdfFile size 3277 kBChecksum SHA-512
Type fulltextMimetype application/pdf

Other links

Publisher's full text

Search in DiVA

By author/editor
Asal, Maher
By organisation
Department of Economics and IT

Search outside of DiVA

GoogleGoogle Scholar
Total: 146 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 162 hits
ReferencesLink to record
Permanent link

Direct link