Stock Market Performance : Developed and Emerging Markets

• Autorzy: Marta Wiśniewska
• Języki publikacji: EN

Abstrakty

EN

The aim of this paper is to make a comparison of the performance of developed stock markets and emerging stock markets vs. US stock market. The analysis is conducted from US investor perspective. MŚCI indexes are used as a proxy of each stock market. Comparison of single market indexes as well as multi-country indexes is made. Investment in multi-country index leads to significant reduction in risk as compared to investment in an average market the index consists of. In 70s, 80s and until mid 90s US market index was outperformed by both world and developed market multi-country indexes, whereas more recently US market seems to outperform these indexes and most of single country indexes. One explanation could be that since markets are getting more integrated and globalize then investments in US stock market can bring benefits previously related to international diversification. (original abstract)

Oceniono stan amerykańskich rynków finansowych tuż przed wybuchem kryzysu finansowego.

Słowa kluczowe

EN

Stock market; Financial markets; Emerging markets; Statistical data analysis

PL

Giełda papierów wartościowych; Rynki finansowe; Rynki wschodzące; Analiza danych statystycznych

• Czasopismo: Prace Naukowe Wyższej Szkoły Bankowej w Gdańsku
• Rocznik: 2008
• Tom: 1 Finanse w nowoczesnej gospodarce
• Strony: 83--95

Twórcy

autor

Marta Wiśniewska

• Wyższa Szkoła Bankowa w Gdańsku

Bibliografia

• Longin, Solnik F. & B., Extreme Correlation of International Equity Markets, "The Journal of Finance", Vol. 56/2001, No 2.
• Odier O. & Solnik B., Lessons for International Asset Allocation, "Financial Analyst Journal", Vol. 49/1993, Issue 2.
• Shapiro A.C. Foundations of Multinational Financial Management. 4th edition. John Wiley& Sons, Inc 2002.
• Zimmermann H., Drobetz W., Oertmann P., Global Asset Allocation: New Methods and Applications. John Wiley& Sons Inc 2003.
• www.msci.com