Claude Erb
First Chicago NBD Investment Management Co., Chicago, IL
Campbell Harvey
Duke University, Durham, NC 27708
Tadas Viskanta
First Chicago NBD Investment Management Co., Chicago, IL
ABSTRACT
The assumption of static world market correlations has given way to a more robust world view. This effect may be even more important for the emerging markets. The role of non-normalities and contagion have important effects on the role of emerging markets in the global portfolio. The reality of regional crises points out the importance of these pervasive effects. Unfortunately we can not generalize about the onset of, or lasting effects of regional crises.