This paper examines how international investors evaluate the change in the risk-return profile often Central and Eastern European countries that recently entered the European Union (EU). By supplementing international investment position data provided by IMF’s International Financial...

The paper examines the informational content of a series of macroeconomic indicator variables with the intention to predict stock market downturns - colloquially also referred to as 'bear markets' - for G7 countries. The sample consists of monthly stock market indices and a set of exogenous...