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The Internalization of Equity Markets: Introduction

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  • Frankel, Jeffrey A.

Abstract

This introduction to a forthcoming NBER volume on the "Internationalization of Equity Markets" argues that the existing finance literature has in some respects not kept pace with world trends. Most empirical studies fail to take due account of the diversity of assets offered by countries around the world, the diversity of locales in which investors live, and the diversity of institutional peculiarities that characterize the markets in which assets and investors are brought together. Four of the papers in the volume are econometric studies of asset pricing and home-country bias in internationally integrated equity markets. The other four examine such issues as emerging markets, country funds, trading volume, location, taxes, controls, and other imperfections in international markets.

Suggested Citation

  • Frankel, Jeffrey A., 1994. "The Internalization of Equity Markets: Introduction," Center for International and Development Economics Research (CIDER) Working Papers 233216, University of California-Berkeley, Department of Economics.
  • Handle: RePEc:ags:ucbewp:233216
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    References listed on IDEAS

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    Cited by:

    1. Li Lian Ong & H. Y. Izan, 1999. "Stocks and currencies: are they related?," Applied Financial Economics, Taylor & Francis Journals, vol. 9(5), pages 523-532.
    2. Eichengreen, Barry, 1994. "The Bretton Woods System: Paradise Lost?," Center for International and Development Economics Research (CIDER) Working Papers 233394, University of California-Berkeley, Department of Economics.
    3. Stein, Ernesto H. & Streb, Jorge M., 1998. "Political stabilization cycles in high-inflation economies," Journal of Development Economics, Elsevier, vol. 56(1), pages 159-180, June.
    4. Bardhan, Pranab, 1995. "The contributions of endogenous growth theory to the analysis of development problems: An assessment," Handbook of Development Economics,in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 3, chapter 46, pages 2983-2998 Elsevier.

    More about this item

    Keywords

    international diversification; emerging markets; CAPM; home-country bias; international financial liberalization; country funds; Marketing; G15;

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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