Investors diversify their portfolios to boost returns and manage risk. However, the benefits of diversifying across geographic regions are reduced if markets are highly correlated. This paper examines trends over the past two decades and finds, as expected from global market integration, that...

Conventional wisdom about US foreign policy toward Africa contains two popular assumptions. First, Democrats are widely considered the party most inclined to care about Africa and the most willing to spend resources on assistance to the continent. Second, the end of the Cold War was widely...

In this paper, we apply a novel analytical technique—k-means clustering—to understand the relationship between the growth of firms and the availability of power in sub-Saharan Africa. We develop a classification of firms and show how firm clusters are distributed across industries and...