The growth prospects of new and old emerging markets -- Are emerging stock markets less efficient? : a survey of empirical literature -- How "normal" are emerging market returns? -- Emerging markets exposure : equities or hedge funds? -- Equity returns in emerging markets : prospects for the...

In a standard financial market model with asymmetric information with a finite number N of risk-averse informed traders, competitive rational expectations equilibria provide a good approximation to strategic equilibria as long as N is not too small: equilibrium prices in each situation converge...

Contingent claims with payoffs depending on finitely many asset prices are modeled as elements of a separable Hilbert space. Under fairly general conditions, including market completeness, it is shown that one may change measure to a reference measure under which asset prices are Gaussian and...