BAFI Academic Seminarhttps://weatherhead.case.edu/events/2017/11/17/bafi-academic-seminar
A growing body of evidence suggests that the benefits of international diversification via developed markets have dramatically declined. While emerging markets still offer diversification opportunities, their public equity indices capture only a fraction of economic activity of emerging countries. We propose a diversification approach that exploits the global connectedness of developed countries to gain exposure to emerging countries overall economies rather than their shallow equity markets. In doing so, we demonstrate that developed markets still offer substantial diversification benefits beyond those available through equity indices. Our results suggest that relying on equity indices to assess diversification benefits understates diversification gains. This paper is co-authored with Redouane Elkamhi and Mikhail Simutin, University of Toronto.
||Friday, Nov. 17, 2017 from 10:30 a.m. to noon
||Peter B. Lewis Building, Room 218
11119 Bellflower Road
Cleveland, OH 44106-7235
||Speaker(s): Joo Woo Bae, Dept. of Banking & Finance, WSOM
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