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Predictable Risk and Returns in Emerging Markets
[report]
1994
unpublished
the International Finance Corporation provided answers to a number of questions. I am especially indebted to Robert Stambaugh and an anonymous referee for their detailed suggestions. ABSTRACT The emergence of new equity markets in Europe, Latin America, Asia, the Mideast and Africa provides a new menu of opportunities for investors. These markets exhibit high expected returns as well as high volatility. Importantly, the low correlations with developed countries' equity markets significantly
doi:10.3386/w4621
fatcat:6i3m7b4adzbkjemumabpewgs54