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Stock Return Volatility In Emerging Equity Markets: The Relative Effects Of Country And Global Factors, Benjamin Adam Abugri

Theses and Dissertations - UTB/UTPA

The rapid growth of capital markets in developing countries has come as a major event in recent financial history. According to the International Finance Corporation (IFC), portfolio flows to emerging countries has kept rising since the early 1980s and the trend has continued even after a number of financial crises (IFC, 2000). Probably one of the most commonly known characteristics of these markets is their high volatility compared to the more developed markets. But results of studies on volatilities in these markets are often based on estimates of the variance of market indexes or asset returns over relatively long periods …