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In the field of international finance, there is a large role for international financial market integration and financial depth by contributing to the global financial system and enhancing financial system power through easier access to sufficient funds of government and private sectors. This research aims to determine the short‐run and long‐run impact of financial depth on international financial market integration in eight selected countries over the period of 1980–2021 in both a linear and nonlinear model, while providing the opportunity to assess the asymmetric impact of financial depth on international financial market integration. After estimating the models, we show that financial depth has significant short‐run and long‐run effects in most of our sample countries in the linear mode. We also show that the long‐run impact of financial depth on financial market integration is asymmetric in all eight countries, concluding that financial depth and risks associated with it play an important role in international financial market integration, and it is important for countries to select and implement adequate financial market policies to take advantage of this relationship. [ABSTRACT FROM AUTHOR]

Assessing the shadow economy and its major determinants has been an important part of economic literature over the past few decades. In this article, we analyse the impact of exchange rate volatility on the presence of the shadow economy for the current 38 OECD countries over the period of 1991–2021 in both a linear and nonlinear manner. We provide the opportunity to test whether an exchange rate adjustment may follow a nonlinear path and analyse the asymmetric impact of exchange rate volatility on the shadow economy. We estimate a linear ARDL model for each country and find support that exchange rate variability significantly affects the shadow economy both in the short run and long run in most countries both in linear and nonlinear models. However, by estimating a nonlinear ARDL model, we find an asymmetric exchange rate volatility effect in all 38 countries concluding that exchange rate volatility and risks associated with it significantly affects the shadow economy. Thus, it is crucial that this group of nations adequately implement financial policies to minimize this risk. [ABSTRACT FROM AUTHOR]

We applied three well-known technical indicators and one neglected indicator to the daily data for the Bulgarian Stock Index from November 21, 2003 to March 1, 2018. The results strongly support the predictive power of technical trading rules for the entire period and for each subperiod. This study includes a comprehensive evaluation that shows that it is possible to exploit this predictive power to beat the buy-and-hold strategy with respect to both risk and transaction costs. We identify four strategies, from lowest risk to highest risk, and find that trading by the 200 days moving average beat the profitability of the buy-and-hold strategy with respect to risk and one-way transaction cost by 1.76% for the entire period and each subperiod for Bulgaria. [ABSTRACT FROM AUTHOR]

We apply several well-known and popular technical indicators to the daily data for the Vietnam Ho Chi Minh stock index (VSI) from 5/15/2002 to October 31st of 2012. The empirical results strongly support the predictive power of technical trading rules; these strong results also hold for each sub-period analyzed. Further, we ask whether a trader can use the predictive power of technical analysis to beat the profitability of the buy-and-hold strategy considering both transaction costs and risk. Designing four strategies of various trading rules, we conclude that it is possible to beat the buy-and-hold strategy even considering transaction costs and risk. [ABSTRACT FROM AUTHOR]