In recent decades the Indian subcontinent has displayed remarkable invariance in the incidence of working poverty despite strong economic performance. It is widely held that education can rescue households from various types of poverty traps created by information problems and incorrect...

Over the last decade investing in financial markets of emerging countries has become increasingly popular. In this paper we examine the performance of equity and bond mutual funds that invest primarily in the emerging markets. Our results indicate that emerging market stock funds generally under...

Jegadeesh (1991) finds evidence of January mean reversion in stock returns. In this paper we attempt to distinguish between two competing economic explanations of January mean reversion in returns: (1) mispricing in irrational markets versus (2) predictable time variation in security risk...