The Drivers of Expected Returns in International Markets

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The Cost of Equity in Emerging Markets: A Downside Risk Approach (2000, unknown): “Bekaert and Harvey (2000) find that liberalizations in emerging markets have decreased the cost of capital in these markets between 5 and 75 basis points.”
Emerging Markets Finance (2003, methodology): “In the long run, the gradual development and diversification of the market should lead to lower volatility.11 Bekaert and Harvey (2000a) argue that correlation and beta with the world market increase after equity market liberalizations.”
Predicting Hedge Fund Failure: A Comparison of Risk Measures (2009, unknown): “Previous research reports that SEM explains the cross section of stock returns in emerging markets and the cross section of Internet stocks returns (Harvey (2000), Estrada (2000), (2004)).”
Excess Control, Corporate Governance and Implied Cost of Equity: International Evidence (2009, unknown): “Similarly, Erb et al. (1996) and Harvey (2000) find that country credit ratings are significantly associated with the cost of capital.”
Multiple large shareholders, control contests, and implied cost of equity (2008, background): “Similarly, Erb et al. (1996) and Harvey (2000) find a significant association between country credit ratings and the cost of capital in a cross-country analysis.”