This rise in correlations may not be so surprising because the
stock markets in all these developed countries have become more
and more alike, as have their economic policies. But there also
has been a striking increase in the correlation of the movements
in emerging markets to those in the United States. And that big
shift up in correlations with emerging markets came at the same
time as in developed markets: in the summer of 1998.
stock markets in all these developed countries have become more
and more alike, as have their economic policies. But there also
has been a striking increase in the correlation of the movements
in emerging markets to those in the United States. And that big
shift up in correlations with emerging markets came at the same
time as in developed markets: in the summer of 1998.
No comments:
Post a Comment