Series: IMF Working Papers
Author(s): Richard Podpiera , and Tomás Dvorák
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2005
Keywords: asset pricing, international financial integration, EU enlargement, accession countries, stock prices, world market, market integration, stock price, Financial Aspects of Economic Integration,
The announcement of the European Union enlargement coincided with a dramatic rise in stock prices in accession countries. This paper investigates the hypothesis that the rise in stock prices was a result of the rep...