Identifying Potential Benefits of International Portfolio Diversification: Sub-Saharan Economics
Within the framework of Markowitz-Tobin portfolio theory, we empirically investigate potential benefits to a US investor from diversifying into equity markets in Sub-Saharan Africa. We infer, based on the state of these economies for the period studied, that potential gains accrue to a US investor from such diversification. For the optimal diversification strategy combination, portfolio equilibrium involves positive portfolio weights in all four countries; an outcome that is unambiguously conductive to regional economic growth.
Volume (Year): 1 (1992)
Issue (Month): 1 ()
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