Núm. 36 (2012)
Artículos

Integración financiera México-Estados Unidos: mercados accionarios y de derivados accionarios

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  • Francisco López Herrera,
  • Francisco Venegas Martínez
Francisco López Herrera
UNAM
Biografía
Francisco Venegas Martínez
IPN
Biografía
DOI: https://doi.org/10.24275/ETYPUAM/NE/362012/Lopez
Publicado junio 1, 2012
Palabras clave
  • integración fi nanciera en México,
  • mercados accionarios,
  • mercados de derivados,
  • Bolsa Mexicana de Valores
Aviso de derechos de autor/a

Resumen

Este artículo muestra los resultados de nuestro estudio sobre las características de las relaciones entre los mercados accionarios mexicanos y estadounidenses y los mercados de derivados de esos mercados accionarios. El análisis se lleva a cabo conforme a la hipótesis de que hay canales de transmisión de los rendimientos y de las volatilidades de estos mercados debido a que están integrados; en otras palabras, ese grupo forma un sistema de mercados que responde a fuerzas comunes. La estimación de un modelo econométrico, el cual incluye tanto las relaciones de equilibrio de largo plazo entre esos mercados (detectadas mediante pruebas de cointegración) como la dinámica de sus rendimientos y volatilidades, proporciona evidencia favorable acerca de la presencia de canales de transmisión signifi cativos. Sin embargo, la evidencia sugiere que la integración es sólo moderada o incompleta.
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Citas

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