Department of Economics
This paper examines the impact of the 1997 Asian Financial Crisis on the linkages between the Singapore and five Asian-Pacific stock markets. We show that the interdependence between these markets has intensified after the crisis. Before the crisis, only the Malaysian stock market is found to be cointegrated with Singapore. However, after the onset of the crisis, the stock markets of Hong Kong, Japan, Malaysia and the US are found to be cointegrated with the Singapore stock market.
Source Publication Title
Link to Publisher's Edition
Foo, Siew-Yen, Wing Keung Wong, and Terence Tai-Leung Chong. "Are the Asian equity markets more interdependent after the financial crisis?." Economics Bulletin 6.16 (2008): 1-7.