Understanding how markets are connected and shocks are transmitted is an important issue for policymakers and market participants. In this paper, we examine the

Understanding how markets are connected and shocks are transmitted is an important issue for policymakers and market participants. In this paper, we examine the

Understanding how markets are connected and shocks are transmitted is an important issue for policymakers and market participants. In this paper, we examine the

The ongoing global financial crisis has manifested a remarkable degree of global financial integration—and its implications—for emerging Asian financial mar

The efficient market hypothesis (EMH) maintains that all relevant information is fully and immediately reflected in stock prices and that investors will obtain