This paper examines the dependence structure between the emerging stock markets of the BRICS countries (Brazil, Russia … period from September 1997 to September 2013 show that the BRICS stock markets exhibit asymmetric dependence with the global … display a symmetric tail independence with all those BRICS markets (except that of South Africa), even though the dependence …

on five most important emerging equity markets, namely Brazil, Russia, India, China and South Africa (BRICS), as well as … economic and a statistical approach. The empirical evidence does not confirm a contagion effect for most BRICS during the early … Brothers collapse, suggesting a shift on investors' risk appetite. Moreover, correlations among all BRICS and USA are increased …