Testing Stock Market Price Index Convergence: Evidence from OECD Countries

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Nanavay Sabegh Behnaz; FEGHEHMAJIDI ALI; MOHAMADI AHMAD

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Journal: Iranian Journal of Economic Research Year:2019 | Volume:23 | Issue:77 Page(s): 169-194

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Title

Testing Stock Market Price Index Convergence: Evidence from OECD Countries

Author(s)

Nanavay Sabegh Behnaz | FEGHEHMAJIDI ALI | MOHAMADI AHMAD | Issue Writer Certificate

Keywords

ConvergenceQ1

Stock MarketQ1

Cluster ApproachQ1

OECDQ2

Abstract

The Stock Market is one of the most important infrastructures for economic development in developing and developed countries. The Convergence of Stock Market returns reflects the interdependence of the economies of countries and the mobility of capital among them. This study aims to test the Stock Market price index Convergence between OECD countries Philips and sul (2007) methodology over the period January 2007-Februrary 2017. The results show that the Stock Markets do not form a convergent cluster. However, there are three convergent clubs with one divergent market, Luxemburg. Also, the result of Convergence test among clusters represents that the first and second clusters form a convergent cluster.

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APA: Copy

Nanavay Sabegh, Behnaz, FEGHEHMAJIDI, ALI, & MOHAMADI, AHMAD. (2019). Testing Stock Market Price Index Convergence: Evidence from OECD Countries. IRANIAN ECONOMIC RESEARCH, 23(77 ), 169-194. SID. https://sid.ir/paper/395007/en

Vancouver: Copy

Nanavay Sabegh Behnaz, FEGHEHMAJIDI ALI, MOHAMADI AHMAD. Testing Stock Market Price Index Convergence: Evidence from OECD Countries. IRANIAN ECONOMIC RESEARCH[Internet]. 2019;23(77 ):169-194. Available from: https://sid.ir/paper/395007/en

IEEE: Copy

Behnaz Nanavay Sabegh, ALI FEGHEHMAJIDI, and AHMAD MOHAMADI, “Testing Stock Market Price Index Convergence: Evidence from OECD Countries,” IRANIAN ECONOMIC RESEARCH, vol. 23, no. 77 , pp. 169–194, 2019, [Online]. Available: https://sid.ir/paper/395007/en

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