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In this paper we investigate the development of capital market pricing in six Central and Eastern European (CEE) post-communist countries (the Czech Republic, Estonia, Hungary, Poland, Romania and Slovakia) in the two decades after the change of regime. To make the results for these markets directly comparable with those for other developed markets we incorporate four developed countries as well:...
This paper conducts an empirical analysis to examine the degree of market integration in the PJM electricity market as a way to evaluate the transmission open access and market efficiency. PJM electricity market was established in 1997. However, from May 2004 to May 2005, the market was expanded greatly. The impact of the market expansion on the degree of market integration is studied. The test results...
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