NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Risky Capital of Emerging Markets

Joel M. David, Espen Henriksen, Ina Simonovska

NBER Working Paper No. 20769
Issued in December 2014, Revised in October 2016

---- Acknowledgements ----

We thank Stan Zin, Juan Carlos Hatchondo and Tarek Hassan for their insightful discussions; Luis-Gonzalo Llosa for his contributions during the initial stages of this project; Luca Macedoni and Cynthia Yang for their research assistance; and many seminar and conference participants. Ina Simonovska acknowledges financial support from the Hellman Fellowship and the Institute of Social Sciences at UC Davis. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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