networks expanded in a less interior-to-coast way in periods of democracy. This result suggests that Africa's interior …-to-coast way in periods of democracy. This result suggests that Africa's interior-to-coast roads are at least in part the result of …

We study the possibility for international diversification of catastrophe risk by the insurance sector. Adopting the … time, thus reducing the scope for international diversification of large losses in this sector. …

the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case of fat …

diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based … of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …

diversification against the benefits in terms of the standard deviation of the returns. Suppose a safety first investor cares about …