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Closed-End Country Funds and International Diversification Benefits

  • Seth C. Anderson
  • Jeffery A. Born
Chapter
Part of the Innovations in Financial Markets and Institutions book series (IFMI, volume 13)

Abstract

At the end of World War II, Japan lay in ruins, her industrial capacity virtually destroyed in the military campaign. With foresight and well-spent financial support, the economy experienced a period of unprecedented growth that catapulted the nation from one of the most destitute to one of the richest on the face of the earth. Given the tremendous success of the Japanese economy, it is frequently not remembered that the recovery process was initially extremely fragile. Early on, in an effort to encourage local business, the Japanese government enacted strict restrictions on imports and on foreign ownership. While many economists argue that the protectionism that dominated the Japanese government’s business policy for decades is partly responsible for their current recession, there is little doubt that the policies served their initial purpose.

Keywords

Foreign Investor Market Return Share Price Efficient Frontier International Diversification 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 2002

Authors and Affiliations

  • Seth C. Anderson
    • 1
  • Jeffery A. Born
    • 2
  1. 1.Department of Accounting and FinanceUniversity of North FloridaUSA
  2. 2.College of Business AdministrationNortheastern UniversityUSA

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