An empirical investigation is offered of the number of common trends in stock returns in seven Asian emerging markets. There is evidence of a single common trend. Following Kasa (Kasa, K., 1992, Common stochastic trends in international stock markets, Journal of Monetary Economics, 29, 95-124) a...

This paper offers an empirical investigation of the presence of a long run relationship in stock prices in six Latin Emerging Markets. We find evidence of a long run relationship among all of these countries in a bivariate framework. Results indicate the presence of bidirectional rather than...

This paper offers an empirical investigation of dearth of private capital flows to Sub-Saharan Africa in a context where there is a surge in private capital flows to the rest of the developing countries. Using panel data on thirty Sub-Saharan African countries over the time period from 1986 to...