Re-emerging Markets
Recent research shows that emerging markets are distinguished by high returns and low covariances with global market factors. To check whether these results can be attributed to their recent emergence, we simulate a simple, general model of global markets, with a realistic survival process. The simulations reveal a number of new effects. We find that
Year of publication: |
1998-04-01
|
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Authors: | Goetzmann, William ; Jorion, Philippe |
Institutions: | School of Management, Yale University |
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