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Emerging Markets Integration in Latin America (MILA) Stock market indicators: Chile, Colombia and Peru

Author

Listed:
  • Lizarzaburu, Edmundo

    (Universidad ESAN, Lima, Peru)

  • Burneob, Kurt

    (Universidad San Ignacio de Loyola, Lima, Peru)

  • Galindoc, Hamilton

    (Universidad del Pacífico, Lima, Peru)

  • Berggrund, Luis

    (Universidad Icesi, Cali, Colombia)

Abstract

This study aims to determine the impact of the Latin American Integrated Market (MILA) start-up in the main indicators of the stock markets of the countries that conform it (Chile, Colombia, and Peru). At the end, several indicators were reviewed to measure the impact on profitability, risk, correlation, and trading volume between markets, using indicators such as: annual profitability, standard deviation, correlation coefficient, and trading volume. The sample period runs from November 2008 to August 2013; and involves the three stock markets associated with MILA: Bolsa de Comercio de Santiago (BCS), Bolsa de Valores de Colombia (BVC) y Bolsa de Valores de Lima (BVL). An additional evaluation for further research would consist of the calculation of relevant indicators to corroborate the validity of the effects found in this investigation corresponding to the integration of the stock exchanges of Lima, Santiago and Bogota, after the integration of the Mexican stock exchange that occurred in 2014.

Suggested Citation

  • Lizarzaburu, Edmundo & Burneob, Kurt & Galindoc, Hamilton & Berggrund, Luis, 2015. "Emerging Markets Integration in Latin America (MILA) Stock market indicators: Chile, Colombia and Peru," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 20(39), pages 74-83.
    • Handle: RePEc:ris:joefas:0086
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    Citations

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    Cited by:

    1. Lukanima, Benedicto Kulwizira & Sanchez-Barrios, Luis Javier & Gómez-Bravo, Yuli Paola, 2024. "Towards understanding MILA stock markets integration beyond MILA: New evidence between the pre-Global financial crisis and the COVID19 periods," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 478-497.
    2. Jorge Andrés Muñoz Mendoza & Carmen Lissette Veloso Ramos & Sandra María Sepúlveda Yelpo & Carlos Leandro Delgado Fuentealba & Edinson Edgardo Cornejo Saavedra, 2022. "Exchange Markets and Stock Markets Integration in Latin-America," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(3), pages 1-24, Julio - S.
    3. Malaquias, Rodrigo Fernandes & Zambra, Pablo, 2018. "Disclosure of financial instruments: Practices and challenges of Latin American firms from the mining industry," Research in International Business and Finance, Elsevier, vol. 45(C), pages 158-167.

    More about this item

    Keywords

    MILA; Integration; Risk; Emerging markets;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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