International Diversification: An Ex Post and Ex Ante Analysis of Possible Benefits

John Watson and John P. Dickinson
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John P. Dickinson: Department of Accounting and Finance, University of Western Australia. This paper has benefitted from the helpful comments of Dick Cotter and Philip Brown.

Australian Journal of Management, 1981, vol. 6, issue 1, 125-134

Abstract: In 1972 the Australian Federal Government partially relaxed exchange controls prohibiting overseas portfolio investment by Australian investors. The purpose of this paper is to examine the benefits which might have accrued to Australian investors over the period 1970 to 1977 had they been able to take full advantage of international diversification. The analysis is carried out on both an ex post and ex ante basis and looks at both “Markowitz†and “naive†diversification strategies.

Keywords: EX ANTE EFFICIENT FRONTIER; EXCHANGE CONTROL; INTERNATIONAL DIVERSIFICATION (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:6:y:1981:i:1:p:125-134

DOI: 10.1177/031289628100600106

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