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- Title
Emerging Markets: A Disaggregated Perspective on the Gains from Investing Internationally.
- Authors
Fifield, S. G. M.; Lonie, A. A.; Power, D. M.; Sinclair, C. D.
- Abstract
Using weekly disaggregated returns data for the top twenty shares, by market value, from seventeen emerging markets over the period 1991–1996, this paper investigates the potential gains from international diversification into these markets. The paper also assesses whether these gains could have been achieved on an ex-ante basis. Finally, the paper quantifies the importance of country and industry factors in emerging market stock returns. The findings suggest that (i) substantial benefits exist from investing in emerging stock markets and (ii) these gains accrue more from the geographical spread than from the industrial mix of the equities included in the portfolio.
- Subjects
EMERGING markets; DIVERSIFICATION in industry; RATE of return
- Publication
Review of Pacific Basin Financial Markets & Policies, 1999, Vol 2, Issue 1, p99
- ISSN
0219-0915
- Publication type
Article
- DOI
10.1142/S0219091599000060