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Bekaert, Geert - 2010

Contagion is usually defined as correlation between markets in excess of what would be implied by economic fundamentals; however, there is considerable disagreement regarding the definitions of the fundamentals, how the fundamentals might differ across countries, and the mechanisms that link the...

Persistent link: https://www.econbiz.de/10012762856

What Segments Equity Markets?

Bekaert, Geert; Harvey, Campbell R.; Lundblad, Christian T. - 2021

We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many developing countries, the level of segmentation is still significant. In contrast to previous research, we characterize the factors that account for variation...

Persistent link: https://www.econbiz.de/10013223903

Conditional Asset Allocation in Emerging Markets

Harvey, Campbell R. - 2010

Within the context of conditional asset allocation strategies, this paper explores the implications of the low correlations of the emerging market returns with developed market returns and the relatively high degree predictability of emerging countries' returns. It is well known that low...

Persistent link: https://www.econbiz.de/10012763465

Predictable Risk and Returns in Emerging Markets

Harvey, Campbell R. - 2010

The emergence of new equity markets in Europe, Latin America, Asia, the Mideast and Africa provides a new menu of opportunities for investors. These markets exhibit high expected returns as well as high volatility. Importantly, the low correlations with developed countries' equity markets...

Persistent link: https://www.econbiz.de/10012763467

The Dynamics of Emerging Market Equity Flows

Bekaert, Geert; Harvey, Campbell R.; Lumsdaine, Robin L. - 2021

We study the interrelationship between capital flows, returns, dividend yields and world interest rates in 20 emerging markets. We estimate a vector autoregressionn with these variables to measure the degree to which lower interest rates contribute to increased capital flows and shocks in flows...

Persistent link: https://www.econbiz.de/10013237551

The Real Effects of Financial Constraints : Evidence from a Financial Crisis

Campello, Murillo - 2010

We survey 1,050 CFOs in the U.S., Europe, and Asia to assess whether their firms are credit constrained during the global credit crisis of 2008. We study whether corporate spending plans differ conditional on this measure of financial constraint. Our evidence indicates that constrained firms...

Persistent link: https://www.econbiz.de/10013149992

Growth Volatility and Financial Liberalization

Bekaert, Geert - 2012

We examine the effects of both equity market liberalization and capital account openness on real consumption growth variability. We show that financial liberalization is mostly associated with lower consumption growth volatility. Our results are robust, surviving controls for business-cycle...

Persistent link: https://www.econbiz.de/10012755765

The European Union, the Euro, and Equity Market Integration

Bekaert, Geert - 2010

At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … between member countries whether or not members have also adopted the Euro. The Euro adoption as well as the anticipation of … the Euro adoption has minimal effects on market integration …

Persistent link: https://www.econbiz.de/10013135396