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Measuring Sovereign Bond Market Integration in Asia: A Wavelet Perspective

S.T. Sehgal & Jaspal Singh

Asian Economic Journal2025https://doi.org/10.1111/asej.12351article
AJG 1ABDC B
Weight
0.37

Abstract

This present study examines the time‐varying relationship between the bond markets of Asian countries and global bond markets using wavelet techniques. The study focuses on the period from 2006 to 2022 and covers the Asian bond markets of China, Japan, Korea, India, and Singapore and global markets of the United States of America and European Union. The findings show a significant degree of positive co‐movement and integration between the bond markets of these Asian countries as well as with their global counterparts. However, integration varies, with short‐ and medium‐term coherence driven by crises and policy announcements, while long‐term patterns remain diverse.

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https://doi.org/https://doi.org/10.1111/asej.12351

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@article{s.t.2025,
  title        = {{Measuring Sovereign Bond Market Integration in Asia: A Wavelet Perspective}},
  author       = {S.T. Sehgal & Jaspal Singh},
  journal      = {Asian Economic Journal},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1111/asej.12351},
}

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Measuring Sovereign Bond Market Integration in Asia: A Wavelet Perspective

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.