This paper examines the diversification benefits of iShares in comparison to closed-end country funds (CECFs) and … diversification gains than their rivals. The main findings are: first, although all of these financial instruments exhibit significant … exposure to U.S. market, they retain significant exposure to their home markets and provide important diversification benefits …

In this chapter we show that, as the world becomes increasingly integrated, the benefits of global diversification … international integration, measured by adjusted from a multifactor model, has more profound impact on the diversification benefits … equity market return, liquidity, and the relative performance of domestic portfolio on the potential diversification benefits …

EMs. Based on a time-varying measure of diversification benefit, we find that it is not possible in a long-only portfolio … that adding EMs to a DM-only portfolio increases diversification benefits …

paper proposes a new methodology to estimate the gains from international diversification in which the optimal asset …