Capital Flows and the Behavior of Emerging Market Equity Returns

Geert Bekaert and Campbell R. Harvey, Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies (University of Chicago Press, 2000), chap. 6, https://www.nber.org/books-and-chapters/capital-flows-and-emerging-economies-theory-evidence-and-controversies/capital-flows-and-behavior-emerging-market-equity-returns.