frontier markets in global equity portfolio diversification is clearly less examined. We contribute to the existing literature …

This paper studies the benefits of international portfolio diversification in a context of growing market correlation … variance, CVaR, LPM (2,3,4,5)) are used to assess the robustness of international diversification benefits. Equity returns from … characterized by increasing market correlations. Our empirical results show that international diversification benefits can still be …

This paper empirically investigates international equity investors' foreign portfolios before and during the financial … crisis by estimating a gravity model for 22 source and 42 destination countries. The results show that international stock … market diversification provides large gains during the financial crisis. This is remarkable because of large stock market …