INTERNATIONAL JOURNAL OF CORE ENGINEERING AND MANAGEMENT

ISSN: 2348 9510 International Journal Of Core Engineering & Management(IJCEM) Volume 1, Issue 2, May 2014 1 Analyzing dynamic causal linkages between developed stock markets of Spain and Canada Felicia Ramona Birău, Ph.D. Regional Public Finances General... More

ISSN: 2348 9510 International Journal Of Core Engineering & Management(IJCEM) Volume 1, Issue 2, May 2014 1 Analyzing dynamic causal linkages between developed stock markets of Spain and Canada Felicia Ramona Birău, Ph.D. Regional Public Finances General Directorate of Craiova, Romania birauramona@yahoo.com Abstract—The main objective of this research article involves analyzing dynamic causal linkages between developed stock markets of Spain and Canada. The long-run dynamic causal linkages between international stock markets highlight the importance of a functional and stable financial environment. Seemingly insignificant structural imbalances can easily generate dramatic consequences in the context of a globalized and integrated world wide perspective. The empirical analysis is based on daily returns of selected developed stock markets major indices during the period between June 1993 and December 2013. The financial econometrics empirical research is based on Unit Root Test, Augmente Less