THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?

THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?

This paper offers a preliminary analysis regarding the convergence of European stock markets. The sample consists of all 27 countries of European Union split in seven sub-groups related to income level, euro adoption and development level. The patterns analysed through this article are an important...

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Main Author: Muresan Diana
Format: Article
Language:deu
Published: University of Oradea 2013-07-01
Series:Annals of the University of Oradea: Economic Science
Subjects:
market capitalization, stocks traded, convergence, stock markets, EU
Online Access:http://anale.steconomiceuoradea.ro/volume/2013/n1/132.pdf
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spelling doaj-25a3e2ff07a147b59e80e8b4040849dd2020-11-25T00:17:40ZdeuUniversity of OradeaAnnals of the University of Oradea: Economic Science1222-569X1582-54502013-07-0122112501265THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?Muresan Diana0 1 2 3Babeº-Bolyai University, Faculty of Economics and Business Administration, Department of Accounting and Audit, Department of Economics, Cluj-Napoca,,,,This paper offers a preliminary analysis regarding the convergence of European stock markets. The sample consists of all 27 countries of European Union split in seven sub-groups related to income level, euro adoption and development level. The patterns analysed through this article are an important indication of expected convergence in EU stock markets. This study analyses the evolution and the trend of market capitalization and stocks traded and their correlation with some important determinants, namely inflation, capital formation, enrolment years, trade, FDI, government debt. Results show a negative correlation between initial level of market capitalisation and its growth rate and also of initial level of stocks traded and its growth rate. These results could be a sign of absolute convergence. Further research in this area is needed to see if there exists conditional convergence when heterogeneity among individuals is controlled for.http://anale.steconomiceuoradea.ro/volume/2013/n1/132.pdfmarket capitalization, stocks traded, convergence, stock markets, EU
collection DOAJ
language deu
format Article
sources DOAJ
author Muresan Diana
spellingShingle Muresan Diana
THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
Annals of the University of Oradea: Economic Science
market capitalization, stocks traded, convergence, stock markets, EU
author_facet Muresan Diana
author_sort Muresan Diana
title THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
title_short THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
title_full THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
title_fullStr THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
title_full_unstemmed THE PATTERNS OF EU STOCK MARKETS. IS THERE A SIGN OF CONVERGENCE?
title_sort patterns of eu stock markets. is there a sign of convergence?
publisher University of Oradea
series Annals of the University of Oradea: Economic Science
issn 1222-569X
1582-5450
publishDate 2013-07-01
description This paper offers a preliminary analysis regarding the convergence of European stock markets. The sample consists of all 27 countries of European Union split in seven sub-groups related to income level, euro adoption and development level. The patterns analysed through this article are an important indication of expected convergence in EU stock markets. This study analyses the evolution and the trend of market capitalization and stocks traded and their correlation with some important determinants, namely inflation, capital formation, enrolment years, trade, FDI, government debt. Results show a negative correlation between initial level of market capitalisation and its growth rate and also of initial level of stocks traded and its growth rate. These results could be a sign of absolute convergence. Further research in this area is needed to see if there exists conditional convergence when heterogeneity among individuals is controlled for.
topic market capitalization, stocks traded, convergence, stock markets, EU
url http://anale.steconomiceuoradea.ro/volume/2013/n1/132.pdf
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