This study consists of three essays of causal relations between international financial markets. The first essay investigates the impact stock exchange mergers on indices co-movement and international portfolio management. The long run cointegration and causal relations between a group Nordic and Baltic stock Exchanges (Norway, Denmark, Sweden, Finland, Estonia, Latvia and Lithuania) that composed the OMX and NASDAQ stock exchange are tested. Employing GARCH model to test the heteroskedastic cointegration between these indexes during 2003 to 2012, I find that the integration of Nordic and Baltic stock markets increased due to the merger. Based on the linear and nonlinear causality test, the results show that the NASDAQ index has a stronger predictive power on OMX indexes after the merger. The second essay explores the causal relations oil markets and financial markets. Using daily data of WTI crude oil prices and Shanghai Stock Exchange index for a period from January 1, 2001, to November 2, 2015, I propose a two-step nonlinear quantile causality test approach to investigate the bidirectional relationship between oil price return and China's stock price return. This study provide some evidence of the existence of relation between international oil markets and financial markets of emerging countries, and suggest that insignificant results in previous studies is due to the unsuitable regression models. Last essay links international financial network with international trade network. Based on the bilateral data from year 2001 to 2011, I construct international trade and financial networks, defined as a weighted graph where nodes are countries and edges are trade and capital flow linkages, respectively. To get a deeper insight of the network characteristics, we adopt turning parameter to combine the node degree and strength within the weighted network. And moreover, we construct a new indicator, partner quality centrality, to identify the quality of neighbors. Within the panel co-integration framework, we provide the existence of positive long run equilibrium between the trade and financial networks as constructed. In addition, we employ a panel causality test to investigate the short run dynamics, indicating that the international capital flow network has predictive power on the trade network from the short run perspective, but not the vice versa.

Thesis (Ph. D.)--UCLA, 2008. / Vita. Includes bibliographical references.

Thesis (Ph. D.)--Ohio State University, 2004. / Title from first page of PDF file. Document formatted into pages; contains xi, 110 p.; also includes graphics. Includes bibliographical references (p. 70-76).

This study is concerned with investigating the structural relationship between stock markets and economic variables in different countries. In investigating the relationships, the following six questions are posed:- Are stock markets in the United States, the United Kingdom, West Germany, France, Norway, Japan, Singapore, Malaysia, Australia and South Africa related to each other and do they influence each other? Does the level of any relationship change over time? Are variables representing economic activity in each country related to similar variables in the other countries? Does the level of any economic relationship change over time? Are the comovements of both equity markets and economic indicators consistent? and Are stock markets examined in this study influenced by similar common underlying factors? The empirical results suggest positive answers to these questions. The main findings from the study suggest that equity returns are related and although some markets have a higher degree of similarity, the covariance between international equity returns remain stable over the short period but tend to change in the long run. It is also found that economic variables of different countries are related in a consistent way to the equity markets. Finally it is shown that stock prices in each country are systematically affected by similar economic factors.

Title from PDF of title page (University of Missouri--Columbia, viewed on February 24, 2010). The entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file. Dissertation advisor: Dr. Vicki J. Rosser. Vita. Includes bibliographical references.

Thesis (Ph. D.)--Ohio State University, 2003. / Title from first page of PDF file. Document formatted into pages; contains x, 104 p.; also includes graphics (some col.). Includes bibliographical references. Available online via OhioLINK's ETD Center.

Cette thèse analyse l’application de la théorie du commerce international dans des pays émergents de l’Asie et de l’Amérique Latine en particulier en Chine et au Brésil, dans un processus de globalisation. Cette politique se fait différemment en Chine et au Brésil par rapport aux réalités régionales et nationales, liées parfois aux avantages comparatifs de chaque pays, qui conduisent l’un ou l’autre, à adopter une politique d’exportation basée sur des biens à faible contenu technologique [ les produits primaires ], comme c’est le cas du Brésil. Cette primarisation de l’industrie brésilienne par rapport à celle de la Chine a pour origine la politique du taux d’intérêt très élevés au Brésil qu’en Chine. La valorisation de la monnaie brésilienne par rapport au dollar affecte son industrie et ne favorise pas la compétitivité des biens exportés au marché mondial, favorisant ainsi l’entrée des capitaux étrangers spéculatifs [ non productifs ]. Bien qu’il y ait une amélioration des indicateurs macroéconomiques la monnaie brésilienne reste encore très valorisée para rapport au dollar tandis que la monnaie chinoise est très peu valorisée. Les résultats empiriques obtenus dans cette thèse nous indiquent que la Chine exporte plus des biens à contenu technologique que le Brésil et a un degré d’ouverture plus élevé. / This thesis analyzes the application of the theory of international trade in emerging countries of Asia and Latin America in particular in China and Brazil, in a process of globalization. This policy is done differently in China and Brazil in relation to regional and national, sometimes related to the comparative advantages of each country, leading one or the other, to adopt a policy based on export of low technological content [primary products], as is the case of Brazil. This primarization of Brazilian industry compared to that of China’s original interest rate policy very high in Brazil and China. The valuation of the Brazilian currency against the dollar affects its industry and is not conducive to the competitiveness of goods exported to the world market, thereby encouraging the entry of speculative capital inflows [not productive]. Although there is an improvement in macroeconomic indicators the Brazilian currency remains very valued against the dollar while the Chinese currency is valued very little. The empirical results obtained in this thesis indicate that China exports more goods to technology-and that Brazil has a higher opening.