Working Papers

Global Equity Investing

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The objective of this paper is to empirically investigate as to which emerging market portfolios lie on the efficient frontier, exploring further whether certain markets provide better diversification alternatives, and whether such relationships are time invariant. Consistent with the literature, I find that certain markets do indeed provide better diversification alternatives for US investors, though not necessarily in a time-invariant pattern. As expected, countries that seem more economically independent from the US provide better diversification for US investors.