emerging markets have increased, the process of integration of these markets into world markets is incomplete. To some degree …, this accounts for the disparity between emerging equity market capitalization in investable world equity market benchmarks … versus emerging market economies in the world economy. Currently, emerging markets account for more than 30% of world GDP …

We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a …

We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a …

to providing new insights on contagion during crisis periods, we document patterns through time in world and regional … two-factor model with time-varying betas that accommodates various degrees of market integration between different markets …

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which …-form model for a number of financial time-series (for example, equity returns and dividend yields) and search for a common break … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very …

to providing new insights on contagion during crisis periods, we document patterns through time in world and regional … two-factor model with time-varying betas that accommodates various degrees of market integration between different markets …