Cross-Hedging Currency Risks in Asian Emerging Markets Using Derivatives in Major Currencies

@inproceedings{Aggarwal1997CrossHedgingCR,
  title={Cross-Hedging Currency Risks in Asian Emerging Markets Using Derivatives in Major Currencies},
  author={Raj Aggarwal and Andrea L. Demaskey},
  year={1997}
}
(PA 19085). he secular trend over the last few decades has been that cross-border direct and portfolio investments have increased more T rapidly than global economic output and, thus, have grown in relative importance. Not only has this trend seemed to have accelerated in recent years, but an increasing proportion of foreign portfcllio investments is also going to emerging markets, especially as they offer investments with better risk/return combinations (see Harvey [ 19941). As the… 

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