Todorov, Galin; Bidarkota, Prasad - In: International Journal of Economics and Business Research 5 (2013) 4, pp. 433-452
the USA to 17 frontier markets. For four countries, Jordan, Lebanon, Nigeria, and Kenya, we find weak negative return … spillovers from the USA, implying possible diversification opportunities. For 13 markets, the influence of past local shocks is … greater than the influence of current shocks from the USA, and for 16 markets, local past volatility has stronger impact than …