عوائد المحفظة الدولية تحت تأثير تكامل الأسواق المالية : حالة مجموعة من الأسواق المتطورة

Abstract EN

This study aims to detect the integration/segmentation of capital markets in six developped countries : USA ; Canada ; Italy ; France ; Hong Kong and Japan.

So to show the impact of financial integration on international diversification returns over the period of 31 October 1989-31 December 2014.To check this relationship we used a various econometric tests as like : Johansen test ; VECM Model and finaly Granger causality technique.

The results show that the developped markets are well integrated, even that this relationship has a significant effect on international diversification, particulary among Asian markets.