Are International Portfolio Diversification Opportunities Decreasing?.

      Аннотация: It is a common perception that the world economies are becoming increasingly globalized and integrated. In such an environment, do we have evidence that financial markets are becoming increasingly integrated? Do we have evidence that the portfolio diversification opportunities available to international investors are decreasing? Using data for numerous developed and emerging markets, we attempt to find answers to these questions.

Ключевые слова: international financial markets, international portfolio diversification, Principal Component Analysis