Samarakoon, S. M. R. K.Rajapakse, R. P. C. R.2025-09-222023Samarakoon, S. M. R. K., & Rajapakse, R. P. C. R. (2023). Dynamics of Price and Volatility Spillovers among Stock Markets and Foreign Exchange Markets: Evidence from South Asia. International Journal of Accountancy, 3(1), 1-25.http://repository.kln.ac.lk/handle/123456789/30013This study examines the volatility spillover interplay between the foreign exchange and equity markets in three key South Asian countries: India, Pakistan, and Sri Lanka. Drawing on time-series data from 2001 to 2023 and utilizing the DCC-GARCH model, distinct market dynamics emerge. India stands out with pronounced short-term and long-term bidirectional spillovers, revealing an integrated financial landscape. Conversely, Pakistan demonstrates heightened sensitivity to short-term market shocks with muted long-term correlations. Sri Lanka's financial landscape reveals an absence of short-term spillovers while manifesting pronounced long-term interdependencies. This study underscores South Asia's financial heterogeneity, offering pivotal insights for regional economic strategies, investment paradigms, and future academic studies.DCC-GARCH modelForeign exchange marketsRegional heterogeneitySouth Asian equity marketsVolatility spilloverArticle