IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-00986580.html
   My bibliography  Save this paper

Currency regimes and the process of regional financial integration of the emerging countries

Author

Listed:
  • Daniel Goyeau

    (CRIEF [Poitiers] - Centre de recherche sur l'intégration économique et financière - UP - Université de Poitiers = University of Poitiers)

  • Jacques Léonard

    (CRIEF [Poitiers] - Centre de recherche sur l'intégration économique et financière - UP - Université de Poitiers = University of Poitiers)

  • Dominique Pepin

    (CRIEF [Poitiers] - Centre de recherche sur l'intégration économique et financière - UP - Université de Poitiers = University of Poitiers)

Abstract

The topology of emerging financial markets can be established either according to the usual criterion of geographical proximity, or according to a criterion of proximity of currency regimes. By explicitely considering the differences in currency regimes, and more specifically the differences in exchange rate regimes, the aim of this chapter is to analyse, firstly in analytical terms, the influence of proximity of currency regimes relative to that of geographical proximity in the process of integration which are operational on emerging markets. As for empirical evidence, we endeavour to identify these relations, like their evolutions since the beginning of the 1990s, and this for a sample of 22 countries distributed out of four emerging geographical regions (Asia, Latin America, CEECs, the Middle East). We show there is no particular evolution of the rate of integration, in terms of monetary proximity as well as in terms of geographical proximity. In addition, we show that the monetary influence dominates very largely the geographical one in the determination of the return for risk granted by the various national markets.

Suggested Citation

  • Daniel Goyeau & Jacques Léonard & Dominique Pepin, 2005. "Currency regimes and the process of regional financial integration of the emerging countries," Post-Print hal-00986580, HAL.
    • Handle: RePEc:hal:journl:hal-00986580
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    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:hal:journl:hal-00986580. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.