Integration of European Union, Nafta and Asia Stock Markets
This study examines the integration of European Union, NAFTA and Asia stock markets. These countries include,
England, France, German, USA, Canada, Mexico, Indonesia, Malaysia, Singapore, Philippines, Thailand, Hongkong, China,
Japan and South of Korea period starting from January 2008 to December 2016. Unit root, Co-integration test, Vector
Autoregressive (VAR) and Granger Causality Test are employed. The results showed that Stock markets of European Union,
NAFTA and Asia countries are integrated with other stock markets. Furthermore, United states have a significant impact with
other stock market.
Keywords - Stock prices, financial integration, Johansen cointegration, VAR.