Emerging Markets: When Are They Worth It?

Emerging market crises and US equity market returns

“…Further, each crisis centers around a currency event within the identified country. This interpretation is consistent with the findings of Conover, Jensen, and Johnson (2002) who find high integration between monetary policy in developed markets, but weaker correlations between emerging and developed markets. Nonetheless, we cannot rule out the 'monsoon' hypothesis, in which changes in US fundamentals simultaneously impact US portfolios as well as emerging markets.…”

Global Tourism and Real Estate

“…Geographic diversification within a single product type raises questions, as there is evidence that both office (Goetzman and Wachter 1996) and residential (Bardhan, Edlestein and Leung 2004) products move with the global market rather than distinctly by geographic area. A broader mix of real estate products appears to provide diversification benefits in a mix with other types of products in a global portfolio (Conover et al 2002, Hoesli et al 2004.…”

"Stylized Facts Of The Daily, Weekly And Monthly Returns On Bucharest Stock Exchange During 2007-2012 "

“…After the preliminary processing of data 4 , we have transformed the price time series into return time series (in order to eliminate the non-stationarity) for all the 33 assets included into our study. According to Strong (1992, p.353), "there are both theoretical and empirical reasons for preferring logarithmic returns.…”