Document Type

Other

Publisher

Edith Cowan University

Place of Publication

Joondalup, Western Australia

Faculty

Faculty of Business and Law

School

School of Accounting, Finance and Economics

Comments

Allen, D., Golab, A. & Powell, R. (2010). Volatility and correlations for stock markets in the emerging economies of Central and Eastern Europe : implications for European investors. Joondalup, Australia: Edith Cowan University.

Abstract

This paper examines the European investment implications of the recent European Union (EU) expansion to encompass former Eastern bloc economies. What are the risk and return characteristics of these markets pre- and post-EU? What are the implications for investors within the Euro zone? Should investors diversify outside the Central and Eastern Europe (CEE)? The former Eastern bloc economies constitute emerging markets which typically offer attractive risk-adjusted returns for international investors. In this paper, we explore a number of aspects of this important issue and their implications for CEE based investors, culminating in a Markowitz efficient frontier analysis of these markets pre- and post-EU expansion.

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