Stocks for the long run? Evidence from emerging markets

We estimate the myopic (single-period) and intertemporal hedging (long-run) demand for stocks in 20 growth-leading emerging market economies and the US during the 1999 – 2012 period. We consider two types of emerging market investors: a domestic investor (whosereturns are denominated in the local currency) and an international investor who can invest in US and emerging markets stocks (with returns in US dollars). We establish significant short-run and long-run domestic demand for stocks in several emerging market economies.For international investors only the short-run demand for emerging market stocks tends to be significant. Hence, only for domestic investors emerging market stocks are assets for the long run.

Netspar, Network for Studies on Pensions, Aging and Retirement, is een denktank en kennisnetwerk. Netspar is gericht op een goed geïnformeerd pensioendebat.

MEER OVER NETSPAR


Missie en strategie           •           Netwerk           •           Organisatie           •          Podcasts
Board Brief            •            Werkprogramma 2023-2027           •           Onderzoeksagenda

OVER NETSPAR

Onze partners

B20160708_university of groningen
B20160615_pggmgroengrijs_grijswaarden_small
B20211201_Cardano_Logo 2021_website
AFM logo 2023 zwart wit
Bekijk al onze partners