An Empirical Investigation on Capital Market Integration of Asian Countries

The integration of capital markets is an interesting topic for researchers in the stock market, so it is Not surprising if there have been a lot of researches on the integration of capital markets. Financial Integration is a phenomenon in which financial market in neighbouring, regional or global Economies are closely linked together. Various forms of financial integration include information Sharing among financial institution, firms borrow and raise funds directly in the international capital Markets, newly engineered financial products are domestically innovated and bought in the International capital market, investors are directly invested in international capital market etc. The Association of South East Asian Nations (ASEAN) was founded on Aug 8, 1967 by five countries Namely Indonesia, Malaysia, Philippines, Singapore, and Thailand. They were later joined by Certain other members.