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BRIC Stock Markets: An Econometric Analysis

Globalization, economic adjustment and integration among countries have increased relation among stock markets and the correlation may in turn compel investors' to allocate their funds and change their portfolios. The present paper is an attempt to understand this relationship among BRIC countries. An econometric analysis has been conducted on BRIC countries stock market returns for the period 2004 to 2010. The term BRIC includes Brazil, Russia, India and China. The main objective of this study is to provide investor's information related to stock market co-integration among the players of BRIC financial markets.