| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1587 |
| DP1587 TFPG Controversies, Institutions, and Economic Performance in East Asia | |
| Dani Rodrik | |
| 发表日期 | 1997-03-27 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | Since 1990, London?s SEAQ International attracts considerable trading volume in Belgian equities. This paper uses transaction, quotation and limit order book data to investigate competition between the Brussels CATS market and SEAQ International. It focuses in more detail on the liquidity (indirect costs) measured by the quoted and effective bid-ask spread. CATS outweighs SEAQI for both measures. The effective spread is substantially smaller than the quoted spread. The CATS effective spread shows a U-shaped form. This is in line with the different market micro-structure models. Total trading costs on CATS are lower (higher) for small (large) trade sizes. |
| 主题 | Financial Economics |
| 关键词 | Brussels stock exchange Cost of trading shares Seaq international |
| URL | https://cepr.org/publications/dp1587 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530730 |
| 推荐引用方式 GB/T 7714 | Dani Rodrik. DP1587 TFPG Controversies, Institutions, and Economic Performance in East Asia. 1997. |
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