Search results

In this paper, we examine the dynamic nature of equity market integration for the South Asian countries. The daily data for local equity indices are used from 6 January 2004 to 31 March 2015. Copula GARCH models and Diebold and Yilmaz methodology have been employed to study the inter-temporal process of equity market integration. Empirical results show that the sample countries of the region exhibit very little or no levels of integration between them. Equity portfolio flows within the South Asian region reconfirms this trend for low integration in the region. Further, trend analysis of the fundamental determinants of financial integration for the SAARC countries was performed and the same was compared with its neighbouring regional economic bloc in Asia i.e. ASEAN + 6. It indicated that SAARC countries have to show sincere political commitment and require collaboration in efforts of policy realignment to work on their governance parameters, improve on their trade linkages and trade tariffs and develop their equity market infrastructure to achieve higher levels of financial integration. The paper contributes to the International Finance literature, especially dealing with regional economic blocs and has important implications for policy-makers, portfolio managers and academia.

In this paper, we examine the dynamic nature of equity market integration for the South Asian countries. The daily data for local equity indices is used from 6 January 2004 to 31st March 2015. Copula GARCH models have been employed to study the inter-temporal process of equity market integration. Empirical results show that the sample countries of the region exhibit very little or no levels of integration between them. Equity portfolio flows within the South Asian region reconfirm the findings based on price data that regional integration is strengthening over time. Further, trend analysis of the fundamental determinants of financial integration for the SAARC member states indicated that these countries have to work on their governance parameters, improve on their trade linkages and trade tariffs and develop their equity market infrastructure to achieve higher levels of financial integration as is observed by its neighbouring ASEAN+6 group members. The paper contributes to the International Finance literature, especially dealing with regional economic blocs by suggesting that South Asian member countries require collaboration in efforts of policy realignment and above all political commitment to make their alliance viable enough to enhance equity market integration

In this paper, we examine the dynamic nature of equity market integration for the South Asian countries. The daily data for local equity indices is used from 6 January 2004 to 31st March 2015. Copula GARCH models have been employed to study the inter-temporal process of equity market integration. Empirical results show that the sample countries of the region exhibit very little or no levels of integration between them. Equity portfolio flows within the South Asian region reconfirm the findings based on price data that regional integration is strengthening over time. Further, trend analysis of the fundamental determinants of financial integration for the SAARC member states indicated that these countries have to work on their governance parameters, improve on their trade linkages and trade tariffs and develop their equity market infrastructure to achieve higher levels of financial integration as is observed by its neighbouring ASEAN+6 group members. The paper contributes to the International Finance literature, especially dealing with regional economic blocs by suggesting that South Asian member countries require collaboration in efforts of policy realignment and above all political commitment to make their alliance viable enough to enhance equity market integration

Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- List of Figures -- List of Tables -- Notes on Contributors -- Preface -- Acknowledgements -- List of Abbreviations -- Introduction -- 1 South Asian Integration: An Overview -- 2 Economic and Financial Integration In the South Asian Region: A Survey -- 3 On the Determinants of Economic Integration in Saarc Countries: A Macroeconomic Perspective -- 4 Factors Influencing the Saarc's Bilateral Trade : Evidence from Spatial Econometrics Models

Abstract
Bacterial pathogens resistant to multiple antibiotics are emergent threat to the public health which may evolve in the environment due to the co-selection of antibiotic resistance, driven by poly aromatic hydrocarbons (PAHs) and/or heavy metal contaminations. The co-selection of antibiotic resistance (AMR) evolves through the co-resistance or cross-resistance, or co-regulatory mechanisms, present in bacteria. The persistent toxic contaminants impose widespread pressure in both clinical and environmental setting, and may potentially cause the maintenance and spread of antibiotic resistance genes (ARGs). In the past few years, due to exponential increase of AMR, numerous drugs are now no longer effective to treat infectious diseases, especially in cases of bacterial infections. In this mini-review, we have described the role of co-resistance and cross-resistance as main sources for co-selection of ARGs; while other co-regulatory mechanisms are also involved with cross-resistance that regulates multiple ARGs. However, co-factors also support selections, which results in development and evolution of ARGs in absence of antibiotic pressure. Efflux pumps present on the same mobile genetic elements, possibly due to the function of Class 1 integrons (Int1), may increase the presence of ARGs into the environment, which further is promptly changed as per environmental conditions. This review also signifies that mutation plays important role in the expansion of ARGs due to presence of diverse types of anthropogenic pollutants, which results in overexpression of efflux pump with higher bacterial fitness cost; and these situations result in acquisition of resistant genes. The future aspects of co-selection with involvement of systems biology, synthetic biology and gene network approaches have also been discussed.