dc.contributor.author | Gallagher, Liam | |
dc.date.accessioned | 2012-07-09T13:33:07Z | |
dc.date.available | 2012-07-09T13:33:07Z | |
dc.date.issued | 1995 | |
dc.identifier.citation | Gallagher, Liam. 'Interdependencies among the Irish, British and German stock markets'. - Economic & Social Review, Vol. 26, No. 2, January, 1995, pp. 131-147. Dublin: Economic & Social Research Institute | |
dc.identifier.issn | 0012-9984 | |
dc.identifier.other | JEL F36 | |
dc.identifier.other | JEL G15 | |
dc.description.abstract | Interdependencies between the Irish stock market and two other stock markets, namely the United Kingdom and Germany, are assessed. The indices used are the ISEQ, the
FTSE-100, and the FAZ. The application of cointegration techniques suggest that a long-run relationship does not exist between either the stock markets' price levels or their rates of return. There is however, a significant increase in the correlation between short-run returns across the markets after the 1987 stock market crash. Greater stock market integration has coincided with greater financial and economic integration. No lead-lag relationships are found for the pre-crash period in applying Granger causality tests. However, important uni-directional causality is found for the post-crash period. Indicating that the Irish stock market is inefficient. Significant contemporaneous causality is detected for the period of the stock market crash. | en |
dc.language.iso | en | |
dc.publisher | Economic & Social Studies | |
dc.source | Economic & Social Review | en |
dc.subject | Economic interdependence | en |
dc.subject | Stock markets | en |
dc.subject | Ireland | en |
dc.subject | United Kingdom | en |
dc.subject | Germany | en |
dc.title | Interdependencies among the Irish, British and German stock markets | |
dc.type | Journal Article | |
dc.publisher.place | Dublin | en |
dc.identifier.uri | http://hdl.handle.net/2262/64207 | |