Diversification into other emerging nations: evidence from India

Gupta, R and Bang, N P (2015) Diversification into other emerging nations: evidence from India. International Journal of Business and Globalisation, 15 (1). pp. 1-19. ISSN 1753-3635

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Market integration has been increasing over time. The benefits of international diversification are limited in an environment of markets moving together. In this study, we look at the diversification benefits to an Indian investor if they invest a part of their money into other emerging nations and the USA. Using the asymmetric dynamic conditional correlation GARCH model, to estimate time-varying correlations, we find that international diversification provides better risk adjusted returns to the investors. However, the use of conditional correlations does not give better results than the unconditional correlations.

Item Type: Article
Subjects: Business and Management
Date Deposited: 07 Jul 2015 13:05
Last Modified: 11 Jul 2023 19:58
URI: https://eprints.exchange.isb.edu/id/eprint/438

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