IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/1919.html
   My bibliography  Save this article

Assessing Financial Market Integration in Vietnam: A Price – Based Approach

Author

Listed:
  • Tran Thi Xuan Anh
  • Ngo Thi Hang
  • Nguyen Thi Lam Anh

Abstract

This paper investigates the existence of financial market integration between Vietnam and the region (ASEAN, ASIAN) as well as the world using price-based indicators. Our paper is the first to assess the overall integration of the Vietnam financial market based on two different datasets for different sub-capital markets, the bond market and stock market, during the period of 2009 - 2018. The empirical results show that Vietnam, compared to other countries in research, holds lower regional and international integration levels in both the bond market and the stock market, but demonstrates considerably strong signs of progressing regional and global stock market integration over the period. Especially, the absolute values estimated from the beta coefficient and beta convergence approaches for the Vietnamese stock market are larger than for the bond market, proving better convergence degree and speed of Vietnamese stock market over the bond market. These bring policymakers and regulators new thoughts and more challenges in designing appropriate policies towards the development of the financial markets in the future.

Suggested Citation

  • Tran Thi Xuan Anh & Ngo Thi Hang & Nguyen Thi Lam Anh, 2020. "Assessing Financial Market Integration in Vietnam: A Price – Based Approach," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 9, July.
    • Handle: RePEc:bjz:ajisjr:1919
    DOI: https://doi.org/10.36941/ajis-2020-0066
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/12140
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/12140/11739
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.36941/ajis-2020-0066?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Nicholas Apergis & Christina Christou & James Payne, 2011. "Political and Institutional Factors in the Convergence of International Equity Markets: Evidence from the Club Convergence and Clustering Procedure," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 39(1), pages 7-18, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Luc Van Can & Tu Ngoc Dang, 2024. "Challenges in Searching for Vietnam's Growth Drivers Through 2030," Asian Economic Policy Review, Japan Center for Economic Research, vol. 19(2), pages 252-267, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Niţoi, Mihai & Pochea, Maria Miruna, 2016. "Testing financial markets convergence in Central and Eastern Europe: A non-linear single factor model," Economic Systems, Elsevier, vol. 40(2), pages 323-334.
    2. Apergis, Nicholas & Christou, Christina & Miller, Stephen M., 2014. "Country and industry convergence of equity markets: International evidence from club convergence and clustering," The North American Journal of Economics and Finance, Elsevier, vol. 29(C), pages 36-58.
    3. Fegheh Majidi , Ali & Mohammadi , Ahmad & Nanvay Sabegh , Behnaz, 2017. "An Investigation of Convergence Hypothesis of Price Index in Asian Stock Markets," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 12(1), pages 73-88, January.
    4. Matysiak, George & Olszewski, Krzysztof, 2019. "A Panel Analysis of Polish Regional Cities Residential Price Convergence in the Primary Market," MPRA Paper 94660, University Library of Munich, Germany.
    5. Tam, Pui Sun & Tam, Pui I., 2012. "Rethinking stock market integration: Globalization, valuation and convergence," SFB 649 Discussion Papers 2012-052, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    6. repec:hum:wpaper:sfb649dp2012-052 is not listed on IDEAS
    7. Beylunioglu Fuat C. & Stengos Thanasis & Yazgan M. Ege, 2017. "Detecting capital market convergence clubs," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 21(3), pages 1-14, June.
    8. Nicholas Apergis & Christina Christou & Rangan Gupta & Stephen M. Miller, 2018. "Convergence in Income Inequality: Further Evidence from the Club Clustering Methodology across States in the U.S," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 24(2), pages 147-161, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:1919. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.