Abstract:

In this work, we try to identify the various factors of financial integration and to analyze the impact of these factors on the degree of international financial integration of equity markets. Developing an international asset pricing to varying degree of integration with time and making use of econometric panel data model, we will post the results of the impact of these factors on the degree of integration of financial integration for each stock market countries of South-East Mediterranean (Algeria, Morocco, Turkey, Tunisia, Syria, Jordan, Libya and Egypt) with the European stock market (Germany, France, Spain, Italy and United Kingdom) of January 1980- December 2011. Our results show that these markets should achieve more economic stability, and monetary policy.