NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Internationalization of Equity Markets

Jeffrey A. Frankel

NBER Working Paper No. 4590 (Also Reprint No. r1929)
Issued in December 1993
NBER Program(s):   IFM

This introduction to a forthcoming NBER volume on 'The Internationalization of Equity Markets' argues that the existing finance literature has in some respects not kept pace with world trends. Most empirical studies fail to take due account of the diversity of assets offered by countries around the world, the diversity of locales in which investors live, and the diversity of institutional peculiarities that characterize the markets in which assets and investors are brought together. Four of the papers in the volume are econometric studies of asset pricing and home-country bias in internationally integrated equity markets. The other four examine such issues as emerging markets, country funds, trading volume, location, taxes, controls, and other imperfections in international markets.

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Document Object Identifier (DOI): 10.3386/w4590

Published: Introduction to "The Internationalization of Equity Markets ", Jeffrey A. Frankel. in The Internationalization of Equity Markets , Frankel. 1994

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