{"id":2721,"date":"2021-03-10T07:57:42","date_gmt":"2021-03-10T07:57:42","guid":{"rendered":"https:\/\/mgt.sjp.ac.lk\/vjm\/?page_id=2721"},"modified":"2021-03-10T07:59:23","modified_gmt":"2021-03-10T07:59:23","slug":"the-role-of-sri-lankan-stock-market-in-the-asian-region-2","status":"publish","type":"page","link":"https:\/\/mgt.sjp.ac.lk\/vjm\/2016-volume-2-number-01\/the-role-of-sri-lankan-stock-market-in-the-asian-region-2\/","title":{"rendered":"The Role of Sri Lankan Stock Market in the Asian Region"},"content":{"rendered":"<p><section class=\"kc-elm kc-css-149610 kc_row\"><div class=\"kc-row-container  kc-container\"><div class=\"kc-wrap-columns\"><div class=\"kc-elm kc-css-437414 kc_column kc_col-sm-12\"><div class=\"kc-col-container\"><div class=\"kc-elm kc-css-832535 kc_text_block\"><\/p>\n<ul class=\"list4\">\n<li><span style=\"font-weight: 600;\">D. Kuruppuarachchi<\/span><br \/><i style=\"color: #666666; font-size: 11pt;\">University of Sri Jayewardenepura, Sri Lanka<\/i><\/li>\n<li><span style=\"font-weight: 600;\">Abstract<\/span><br \/><i style=\"color: #666666; font-size: 11pt;\">This paper investigates the interaction of the Sri Lankan stock market with other Asian stock markets in terms of cointegration, contemporaneous correlations, information spillovers, and impulse responses. The study consider India, China, Pakistan, Singapore, Malaysia, Hong Kong, Korea, and Japan as neighboring stock markets to the Sri Lankan market. And it use daily data of leading stock indices for each country from 01st January 2000 to 31st December 2012. Findings reveal that the Sri Lankan stock market is cointegrated with the Korean stock market but not with others. Contemporaneous correlations are significant between Sri Lanka and other Asian countries such as India, Singapore, Malaysia, Hong Kong, Korea, and Japan. Pakistan, Malaysian, and Korean stock markets Granger cause in mean to the Sri Lankan stock market while India and Korea Granger cause in variance. Extreme downside risks in Chinese stock market also Granger causes the Sri Lankan stock market. Impulse response analysis provides evidence for the following day\u2019s impact on the Sri Lankan stock market due a current shock on other Asian stock markets. Findings of this paper provide insightful information to both policy makers and investors in order to understand the behavior of Sri Lankan stock market.<\/i><\/li>\n<li><span style=\"font-weight: 600;\">Keywords<\/span><br \/><i style=\"color: #666666; font-size: 11pt;\">Asian Stock Markets, Granger Causality, Impulse Response, Information Spillover, Sri Lankan Stock Market, Stock Market Interactions<\/i><\/li>\n<\/ul>\n<p>\n<\/div><\/div><\/div><\/div><\/div><\/section><section class=\"kc-elm kc-css-58642 kc_row\"><div class=\"kc-row-container  kc-container\"><div class=\"kc-wrap-columns\"><div class=\"kc-elm kc-css-345172 kc_col-sm-12 kc_column kc_col-sm-12\"><div class=\"kc-col-container\"><div class=\"kc-elm kc-css-396228\" style=\"height: 20px; clear: both; width:100%;\"><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"kc-elm kc-css-945776 kc_row\"><div class=\"kc-row-container  kc-container\"><div class=\"kc-wrap-columns\"><div class=\"kc-elm kc-css-664 kc_column kc_col-sm-12\"><div class=\"kc-col-container\"><div class=\"kc-elm kc-css-706562 kc_text_block\"><\/p>\n<p><b>Download<\/b><\/p>\n<p>\n<\/div><\/div><\/div><\/div><\/div><\/section><section class=\"kc-elm kc-css-343916 kc_row\"><div class=\"kc-row-container  kc-container\"><div class=\"kc-wrap-columns\"><div class=\"kc-elm kc-css-482153 kc_col-sm-12 kc_column kc_col-sm-12\"><div class=\"kc-col-container\"><div class=\"kc-elm kc-css-660354 kc-icon-wrapper\">\n\t\t<a href=\"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-content\/uploads\/2021\/03\/The-Role-of-Sri-Lankan-Stock-Market-in-the-Asian-Region.pdf\" target=\"_self\" title=\"\">\n\t\t<i class=\"fa-file-pdf\"><\/i>\n\t\t<\/a>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/section><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"parent":2715,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/pages\/2721"}],"collection":[{"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/comments?post=2721"}],"version-history":[{"count":2,"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/pages\/2721\/revisions"}],"predecessor-version":[{"id":2724,"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/pages\/2721\/revisions\/2724"}],"up":[{"embeddable":true,"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/pages\/2715"}],"wp:attachment":[{"href":"https:\/\/mgt.sjp.ac.lk\/vjm\/wp-json\/wp\/v2\/media?parent=2721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}