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Exchange-Traded Funds Market Development in Asia-Pacific Region

  • Adam Marszk
  • Ewa Lechman
  • Yasuyuki Kato
Chapter

Abstract

This chapter comprises results of the empirical analysis of ETFs markets in the Asia-Pacific region. It provides an overview of the current state of development of ETFs markets in 12 countries. First, it presents and compares their level of development and provides short characteristics, including their structures and features of the key categories of ETFs used in various countries. Moreover, it describes the main trends of the Asia-Pacific regional ETFs market in terms of turnover (and number of listed funds), supplemented by the analysis of the inequalities concerning diffusion of ETFs in the region. Second, this chapter demonstrates the results regarding ETFs diffusion, i.e., ETFs market development that is considered in two perspectives: as the value of turnover of ETFs on the local exchanges (absolute approach) or as the share of ETFs in the total turnover of index instruments (relative approach). The analysis is conducted using the models of diffusion of innovation. The final part of the chapter is devoted to discussion of projections of the diffusion of ETFs in the Asia-Pacific region. Calculations are based on monthly data for the years 2004–2017.

Keywords

ETFs ETFs markets Financial markets Stock exchanges Stock index futures Stock index options Diffusion Asia-Pacific 

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Adam Marszk
    • 1
  • Ewa Lechman
    • 1
  • Yasuyuki Kato
    • 2
  1. 1.Gdańsk University of TechnologyGdańskPoland
  2. 2.Kyoto UniversityKyotoJapan

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