INTERNATIONAL EQUITY DIVERSIFICATION BETWEEN THE UNITED STATES AND BRICS COUNTRIES

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	INTERNATIONAL EQUITY DIVERSIFICATION BETWEEN THE UNITED STATES AND BRICS COUNTRIES
	Zhong, Ming 1; Chang, Tsangyao 2; Tzeng, Han-Wen 3
刊名	ROMANIAN JOURNAL OF ECONOMIC FORECASTING
	2014
卷号	17 期号:1 页码:123-138
关键词	international equity diversification BRICS countries long-run investment portfolios nonparametric cointegration test
ISSN号	1582-6163
英文摘要	This study uses an enhanced powerful nonparametric cointegration test developed by Bierens (1997) to re-investigate whether there are long-run benefits from international equity diversification between the United States and BRICS countries (i.e., Brazil, Russia, India, China, and South Africa), over the period July 1997 to March 2012. The results of this test suggest that the United States markets (for both Dow Jones 30 and S&P 500) are pairwise cointegrated with the stock markets of the BRICS countries. These findings should prove valuable to individual investors and financial institutions.
WOS研究方向	Business & Economics
语种	英语
出版者	INST ECONOMIC FORECASTING
WOS记录号	WOS:000333945100008
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1862]
专题	上海财经大学
通讯作者	Chang, Tsangyao
作者单位	1.Shanghai Univ Finance & Econ, Sch Finance, Shanghai, Peoples R China; 2.Feng Chia Univ, Dept Finance, Taichung 40724, Taiwan; 3.Overseas Chinese Univ, Dept Finance, Taichung, Taiwan
推荐引用方式 GB/T 7714	Zhong, Ming,Chang, Tsangyao,Tzeng, Han-Wen. INTERNATIONAL EQUITY DIVERSIFICATION BETWEEN THE UNITED STATES AND BRICS COUNTRIES[J]. ROMANIAN JOURNAL OF ECONOMIC FORECASTING,2014,17(1):123-138.
APA	Zhong, Ming,Chang, Tsangyao,&Tzeng, Han-Wen.(2014).INTERNATIONAL EQUITY DIVERSIFICATION BETWEEN THE UNITED STATES AND BRICS COUNTRIES.ROMANIAN JOURNAL OF ECONOMIC FORECASTING,17(1),123-138.
MLA	Zhong, Ming,et al."INTERNATIONAL EQUITY DIVERSIFICATION BETWEEN THE UNITED STATES AND BRICS COUNTRIES".ROMANIAN JOURNAL OF ECONOMIC FORECASTING 17.1(2014):123-138.