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Stock market regulations and international financial integration: the case of Spain

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  • J. I. Pena
  • E. Ruiz

Abstract

International financial integration effects on the Spanish stock market are studied, both for the conditional mean and conditional variance. New institutional regulations in Spain are taken into account and their efficiency consequences are addressed. Results suggest an increasing international integration but nontrivial opportunities for financial diversification may still be relevant.

Suggested Citation

  • J. I. Pena & E. Ruiz, 1995. "Stock market regulations and international financial integration: the case of Spain," The European Journal of Finance, Taylor & Francis Journals, vol. 1(4), pages 367-382.
    • Handle: RePEc:taf:eurjfi:v:1:y:1995:i:4:p:367-382
    DOI: 10.1080/13518479500000025
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    References listed on IDEAS

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    1. repec:cep:stiecm:/1993/268 is not listed on IDEAS
    2. Andrew C Harvey & N.G. Shephard, 1993. "Estimation and Testing of Stochastic Variance Models," STICERD - Econometrics Paper Series 268, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
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