Growth and Returns in Emerging Markets

Peter Blair Henry and Prakash Kannan, International Financial Issues in the Pacific Rim: Global Imbalances, Financial Liberalization, and Exchange Rate Policy (University of Chicago Press, 2008), chap. 8, https://www.nber.org/books-and-chapters/international-financial-issues-pacific-rim-global-imbalances-financial-liberalization-and-exchange/growth-and-returns-emerging-markets.