... and nonlinear relationships using the autoregressive distributed lag (ARDL) model. The linear ARDL model assesses short- and long-run relationships between emerging and global equity market returns. In contrast, the nonlinear ARDL model tests asymmetric effects, analyzing whether stock market integration...

... and the linkages with the overall size of the economy. Originality/value – The paper contributes to the existing literature and extends the analysis of determinants of stock exchange integration. In particular, the existence of de jure stock market integration projects suggests to design a special...