Sama Haddad, Rakesh Gupta, E. A. Selvanathan, Saroja Selvanathan, Tarlok Singh
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引用次数: 0
Abstract
Motivated by post-2020 fragmentation and underexplored institutional-geopolitical drivers, we examine how regulatory quality (RQ) and global power (GP) shape stock-market co-movements across 17 G20 economies. We estimate time-varying correlations via ADCC-GARCH, construct a scaled correlation index, and apply panel ARDL. We find that higher RQ and stronger GP raise long-run integration; effects appear conditional rather than purely additive. Results are robust to alternative openness proxies (trade vs. GDP). Our contributions are a unified RQ-GP framework, a correlation index for integration monitoring, and policy-relevant evidence on how institutional quality and geopolitical standing condition diversification and financial stability.
期刊介绍：
The International Review of Finance (IRF) publishes high-quality research on all aspects of financial economics, including traditional areas such as asset pricing, corporate finance, market microstructure, financial intermediation and regulation, financial econometrics, financial engineering and risk management, as well as new areas such as markets and institutions of emerging market economies, especially those in the Asia-Pacific region. In addition, the Letters Section in IRF is a premium outlet of letter-length research in all fields of finance. The length of the articles in the Letters Section is limited to a maximum of eight journal pages.
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