Abstract
This paper extends prior research by jointly incorporating market indices, interest rates (both short- and long-term) and spot cross exchange rates, to investigate the relationship among seven Pacific-Rim (Australia, Hong Kong, South Korea, Malaysia, Singapore, Taiwan and Thailand) markets, to changes in financial variables in the US and Japan, We find that the US stock market Granger-caused movements in all the markets being considered and that the Japanese stock market had a significant effect in half of the markets included in the study. Other financial variables play no, or little, part in influencing the markets being studied.
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