The co-movements and transmission mechanism of stock indexes in three places of Sino-America: Based on Dow Jones, Hang Seng,Shanghai Composite Index daily data since the sub-prime mortgage crisis
中美两国三地股指的同步性与传导机制——基于次贷危机以来道琼斯、恒生和上海综合指数日数据

According to the special-to-general modeling,this paper built a non-linear dynamic model (D~3NLDS)with daily stock index data of Dow Jones,Heng Sheng,and Shanghai Composite Index since the sub-prime mortgage crisis.We found that,the system of stock index in these three places is a nonlinear co-integration one,which exits one fixed points attractor and shows a high Co-movements.Visual shock-response shows that,the stock-index system of these three places is a controlled system,as long as China and US stock m...