Market Integration of Latin America (MILA): results of the operation of a single stock market and the impact on financial development.
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Keywords:
MILA (Mercado Integrado Latinoamericano), stock market, stock exchanges, financial integration, stock indices.Abstract
The EAEU (Eurasian Economic Union) has a possibility to create a single financial market in the near future. It is obvious that the degree of economic development of the EAEU countries differ from each other. Accordingly, in order to create a single financial market, these countries have to solve many problems, such as taking into account the interests of each side to prepare background, as well as to analyze the world examples of creating a single financial market. Because when we analyze the functioning integration unions, we can determine the effect of the integration on the financial development of the countries participating in the union. Therefore, as an example, the article analyzes the results of the functioning of a single Latin American stock market MILA (Chile, Colombia, Peru and Mexico). We’ve studied the effects of integration on the development of each participating country, and also revealed the advantages and disadvantages of the single market.References
1 BVL. (2013). Preguntas frecuentes MILA. Retrieved from: http://www.bvl.com.pe/ mila/preguntas_frecuentes.pdf. on September 15, 2013.
2 Molina Castilla, N., Pabón Gutiérrez, J. D„ Patino, E. and Alonso, M. (2012). Descripción del impacto del mercado integrado latinoamericano MILA para las acciones de dos emisores del sector de hidrocarburos en Colombia. Chía-Cundinamarca: Universidad de la Sabana-Especialización en Finanzas y Mercado de Capitales.
3 S&P MILA Andean 40 Index and S&P MILA Pacific Alliance Select. http://us.spindices.com. on February 2, 2016.
4 Edmundo R. L.Bolados, K.Burneob, H.Galindoc, L.Berggrund (2015). Emerging Markets Integration in Latin America (MILA) Stock market indicators: Chile, Colombia, and Peru. Journal of Economics, Finance and Administrative Science 20 (2015) 74-83.
2 Molina Castilla, N., Pabón Gutiérrez, J. D„ Patino, E. and Alonso, M. (2012). Descripción del impacto del mercado integrado latinoamericano MILA para las acciones de dos emisores del sector de hidrocarburos en Colombia. Chía-Cundinamarca: Universidad de la Sabana-Especialización en Finanzas y Mercado de Capitales.
3 S&P MILA Andean 40 Index and S&P MILA Pacific Alliance Select. http://us.spindices.com. on February 2, 2016.
4 Edmundo R. L.Bolados, K.Burneob, H.Galindoc, L.Berggrund (2015). Emerging Markets Integration in Latin America (MILA) Stock market indicators: Chile, Colombia, and Peru. Journal of Economics, Finance and Administrative Science 20 (2015) 74-83.
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Dauliyeva Seidaliyev, G. S. R. M. (2016). Market Integration of Latin America (MILA): results of the operation of a single stock market and the impact on financial development. Journal of Economic Research &Amp; Business Administration, 114(2/2). Retrieved from https://be.kaznu.kz/index.php/math/article/view/1550
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