頁籤選單縮合
題名 | Offshore Money Market Integration-Evidence of the U.S. Dollar Yields in Taiwan, Singapore, and the United Kingdom |
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作者 | Lin, Antsong; Leu, Shirley; | 書刊名 | 中山管理評論 |
卷期 | 2:3 1994.09[民83.09] |
頁次 | 頁1-13 |
分類號 | 561.18 |
關鍵詞 | Offshore money market; Integration; Cointegration; Error correction model; Banking liberalization; |
語文 | 英文(English) |
英文摘要 | The purpose of this paper is to extend the money market integration study by including Taiwan's offshore money market to provide a more global perspective and to examine Taiwan's progress in entering the international financial arena. The results indicate that three offshore money markets examined are not fully cointegrated. For the overnight yields, only the pairs of Taipei and London and London and Singapore show significant long-run equilibrium relationships. Singapore and London are the only pair of markets displaying cointegration relationship for the one-month maturity yield series. In addition, based on the estimated error correction models, the hypothesis that these offshore money markets are perfectly linked cannot be supported. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。