• Shalini Kushwaha
• Jivesh Nandan

Integrated financial market is of immense significance as it constitutes an important vehicle for promoting domestic savings, investment and economic growth, signaling financial crisis and enhances the necessary conditions for a country’s financial sector to emerge as an international market. Financial integration improves the efficacy and efficiency of the economy by improving the global allocation of capital (also share of risk) which in turn reduces consumption volatility. This study examines the various interlinkages of stock market in India with American countries. To explore their relationship, we have used the daily stock indices from Jan 2009 to Dec 2018 by applying univariate co-integration test and consider the financial time series econometric framework based on ARIMA using Vector Error Correction Model. The purpose of this study is to explore the nature of association and the possible existence of long term as well as short term cointegration between the indices of NSE and New York stock Exchange of United States

Co-integration, ARIMA model, NSE, New York Stock Exchange.

"INTEGRATION BETWEEN INDIAN AND AMERICAN STOCK MARKET: AN EMPIRICAL STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.1076-1082, May-2019, Available :http://www.jetir.org/papers/JETIR1905S60.pdf

"INTEGRATION BETWEEN INDIAN AND AMERICAN STOCK MARKET: AN EMPIRICAL STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp1076-1082, May-2019, Available at : http://www.jetir.org/papers/JETIR1905S60.pdf