Title
Internation portfolio diversification: The case of Balkans,Used
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This study aims to examine the long and short term relationships between the three developed countries (USA, Germany and Greece) and three emerging Balkan countries (Bulgaria, Romania and Croatia). The data used in this study consisted by daily closing prices of large cap indices. The indices considered are the S & P 500 of U.S.A., the Xetra DAX of Germany, the ASE of Greece, the Vanguard of Romania, Bulgaria Sofix and Grobex of Croatia in the period 2/11/2000 to 30/12/2005 at a total 1187 observations. Of course the data are normalized according to dates. Then I used the econometric software Eviews and applied Johansen cointegration methodology to examine the integration between emerging and developed markets, both individually and collectively. The existence of integration vectors implies sustainable balance and therefore cant be many benefits of international diversification in such case. The appropriate test for the existence of shortterm equilibrium is testing for Granger causality. Testing for Granger causality is employed to examine the existence of shortterm relationships between developing and developed markets.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.