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Should U.S. investors hold foreign stocks?

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Author Info
Asani Sarkar
Kai Li

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Abstract

U.S. investors have traditionally been reluctant to acquire foreign securities_in part, perhaps, because they fear that restrictions on trading in foreign markets will sharply limit any gains they might realize from diversifying their portfolios. An analysis of the effects of one type of restriction, short-sale constraints, on stock returns between 1976 and 1999 suggests that investing in emerging market stocks offers substantial benefits even when a ban on short sales is in place.

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Publisher Info
Article provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.

Volume (Year): (2002)
Issue (Month): Mar ()
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Handle: RePEc:fip:fednci:y:2002:i:mar:n:v.8no.3

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Related research
Keywords: Investments; Foreign - United States ; Financial markets ; International finance;

Cited by:
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  1. Stephanos Papadamou & Costas Siriopoulos, 2004. "American equity mutual funds in European markets: Hot hands phenomenon and style analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 9(2), pages 85-97. [Downloadable!]
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