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| | Transparency and International Investor Behavior (Site not responding. Last check: 2007-10-26) |
 | | International evidence on this question, however, is still lacking. |
 | | To be sure, there are several empirical studies that measure the degree of herding among funds, including Lakonishok, Shleifer and Vishny (1992), Grinblatt, Titman and Wermers (1995), and Wermers (1999) for the U.S., Choe, Kho and Stulz (1999) and Kim and Wei (2002) for Korea, and Borensztein and Gelos (forthcoming) for emerging markets worldwide. |
 | | However, as far as we know, there is no paper that studies the connection between a country's level of transparency and the degree of herding by international investors. |
| www.brookings.edu /views/papers/wei/20021016.htm (1170 words) |
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