The authors look at the investment allocation process employed by portfolio investors in emerging markets. In particular, they examine the first of a two-stage decision process: first, investors create a subset of countries with investments potential, to be analyzed later in further detail;...

The author documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating agency fees, and expenditures for marketing and...