Does financial cooperation agreement improve the cointegration among ASEAN+3 money markets?
This paper aims to empirically examine the degree of cointegration among ASEAN+3 money markets in order to determine and adopt remedial actions pursuant to vulnerabilities in the region’s money markets that indicate an inability to prevent possible financial crises. In order to validate vulnerabilit...
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| Format: | Article |
| Language: | English English |
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Taylor & Francis Group
2017
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| Online Access: | http://irep.iium.edu.my/52633/ http://irep.iium.edu.my/52633/1/52633_Does%20financial%20cooperatio.pdf http://irep.iium.edu.my/52633/2/52633_Does%20financial%20cooperatio_SCOPUS.pdf |
| _version_ | 1848784092250767360 |
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| author | Rahman, Md. Saifur Shahari, Farihana |
| author_facet | Rahman, Md. Saifur Shahari, Farihana |
| author_sort | Rahman, Md. Saifur |
| building | IIUM Repository |
| collection | Online Access |
| description | This paper aims to empirically examine the degree of cointegration among ASEAN+3 money markets in order to determine and adopt remedial actions pursuant to vulnerabilities in the region’s money markets that indicate an inability to prevent possible financial crises. In order to validate vulnerabilities, this paper investigates the degree to which money markets are integrated. Inter-bank lending rates are divided based on agreement periods as well as on income levels of regional economies. The VAR-based Cointegration test and the VECM have been applied in the investigation process. The findings are: (1) weak integration during the pre-agreement period; (2) substantial progress toward the post-agreement period; (3) both high- and low-income markets integrate in a cooperative way; and (4) the agreement produces an impact that is incomplete in so far as integrating the
region’s money markets. The finding of this study offers implications for the regional makers. |
| first_indexed | 2025-11-14T16:31:45Z |
| format | Article |
| id | iium-52633 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:31:45Z |
| publishDate | 2017 |
| publisher | Taylor & Francis Group |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-526332017-06-13T04:12:57Z http://irep.iium.edu.my/52633/ Does financial cooperation agreement improve the cointegration among ASEAN+3 money markets? Rahman, Md. Saifur Shahari, Farihana HG Finance HG4501 Stocks, investment, speculation This paper aims to empirically examine the degree of cointegration among ASEAN+3 money markets in order to determine and adopt remedial actions pursuant to vulnerabilities in the region’s money markets that indicate an inability to prevent possible financial crises. In order to validate vulnerabilities, this paper investigates the degree to which money markets are integrated. Inter-bank lending rates are divided based on agreement periods as well as on income levels of regional economies. The VAR-based Cointegration test and the VECM have been applied in the investigation process. The findings are: (1) weak integration during the pre-agreement period; (2) substantial progress toward the post-agreement period; (3) both high- and low-income markets integrate in a cooperative way; and (4) the agreement produces an impact that is incomplete in so far as integrating the region’s money markets. The finding of this study offers implications for the regional makers. Taylor & Francis Group 2017-01-02 Article PeerReviewed application/pdf en http://irep.iium.edu.my/52633/1/52633_Does%20financial%20cooperatio.pdf application/pdf en http://irep.iium.edu.my/52633/2/52633_Does%20financial%20cooperatio_SCOPUS.pdf Rahman, Md. Saifur and Shahari, Farihana (2017) Does financial cooperation agreement improve the cointegration among ASEAN+3 money markets? International Journal of Applied Economics, 31 (1). pp. 108-125. ISSN 0269-2171 E-ISSN 1465-3486 http://www.tandfonline.com/doi/full/10.1080/02692171.2016.1221391 10.1080/02692171.2016.1221391 |
| spellingShingle | HG Finance HG4501 Stocks, investment, speculation Rahman, Md. Saifur Shahari, Farihana Does financial cooperation agreement improve the cointegration among ASEAN+3 money markets? |
| title | Does financial cooperation agreement improve the
cointegration among ASEAN+3 money markets? |
| title_full | Does financial cooperation agreement improve the
cointegration among ASEAN+3 money markets? |
| title_fullStr | Does financial cooperation agreement improve the
cointegration among ASEAN+3 money markets? |
| title_full_unstemmed | Does financial cooperation agreement improve the
cointegration among ASEAN+3 money markets? |
| title_short | Does financial cooperation agreement improve the
cointegration among ASEAN+3 money markets? |
| title_sort | does financial cooperation agreement improve the
cointegration among asean+3 money markets? |
| topic | HG Finance HG4501 Stocks, investment, speculation |
| url | http://irep.iium.edu.my/52633/ http://irep.iium.edu.my/52633/ http://irep.iium.edu.my/52633/ http://irep.iium.edu.my/52633/1/52633_Does%20financial%20cooperatio.pdf http://irep.iium.edu.my/52633/2/52633_Does%20financial%20cooperatio_SCOPUS.pdf |