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dc.contributor.authorQin, Duoen_US
dc.contributor.authorCagas, Marie Anneen_US
dc.contributor.authorDucanes, Geoffreyen_US
dc.contributor.authorMagtibay-Ramos, Nedelynen_US
dc.contributor.authorQuising, Pilipinas F.en_US
dc.description.abstractThis paper examines empirically the dynamic process of regional market integration for twelve individual Asian economies by a new modeling approach, which combines DF with ECM. This new approach enables us to obtain latent regional dynamic factors, which correspond well with the 'foreign' parity variables in theory when market is imperfectly integrated and which act, in explaining domestic short-run price adjustments, as leading-indicators in an error-correction form. The power of the DF-ECM approach is illustrated in its application to measuring market integration in the developing Asian region using monthly data of the past decade.en_US
dc.publisherQueen Mary, Univ. of London, Dep. of Economics Londonen_US
dc.relation.ispartofseriesWorking Paper, Department of Economics, Queen Mary, University of London 565en_US
dc.subject.keywordLaw of one price, Market integration, Dynamic factor, Error-correction modelen_US
dc.titleMeasuring regional market integration by dynamic factor error correction model (DF-ECM) approach: The case of developing Asiaen_US
dc.typeWorking Paperen_US
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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