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tuberculosis drug samples that claim to be made in India and were sold in Africa, India, and five mid-income non-African countries …-existent, under-developed or emerging regulatory oversight, notably Africa. This paper assesses the quality of 1470 antibiotic and … distribution of these substandard products is not random: they are more likely to be found as unregistered products in Africa than …
Persistent link: https://www.econbiz.de/10013312516
experience. In contrast to the East Asian experience, none of the recent growth accelerations in Latin America, Africa, or South … rapid within-sector labor productivity growth (Latin America) or growth-increasing structural change (Africa), but rarely … explain this anomaly by arguing that the forces that promoted structural change in Africa originated on the demand side …
Persistent link: https://www.econbiz.de/10012963742
. India has the largest proportion of missing adult women who are without a husband, followed by the countries in East Africa …
Persistent link: https://www.econbiz.de/10013016643
A number of countries have delayed the opening of their capital markets to internationalquot; investment because of reservations about the impact of foreign speculators on both expectedquot; returns and market volatility. We propose a cross-sectional time-series model that attempts toquot;...
Persistent link: https://www.econbiz.de/10012774923
In this paper we use weekly stock market data for a group of Latin American countries to analyze the behavior of volatility through time. We are particularly interested in understanding whether periods of high volatility are correlated across countries. The analysis uses both on univariate and...
Persistent link: https://www.econbiz.de/10012787582
When countries attempt to stabilize annual inflation rates that are greater than 40 percent, the domestic stock market appreciates by 24 percent on average. The present value of the long-run benefits to shareholders of reducing high inflation outweighs the present value of the short-run costs....
Persistent link: https://www.econbiz.de/10012763153
Foreign portfolio flows may reflect deep changes in the functioning of an emerging market economy and its capital markets. Using a database of monthly net U.S. equity flows, we investigate the relation of these flows to the behavior of equity returns, the structural characteristics of the...
Persistent link: https://www.econbiz.de/10012763588
Recent research shows that emerging markets are distinguished by high returns and low covariances with global market factors. These are striking results because of their immediate implications for the international investor. One key issue is whether these results may be attributed to recent...
Persistent link: https://www.econbiz.de/10012763668
Firm-level stock returns exhibit comovement above that in fundamentals, and the gap tends to be higher in developing countries. We investigate whether correlated beliefs among sophisticated, but imperfectly informed, traders can account for the patterns of return correlations across countries....
Persistent link: https://www.econbiz.de/10013017087
When countries liberalize their stock markets, firms that become eligible for purchase by foreigners (investible), experience an average stock price revaluation of 10.4 percent. Since the covariance of the median investible firm's stock return with the local market is 30 times larger than its...
Persistent link: https://www.econbiz.de/10013218403