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Germany. I am grateful for comments and discussions to Geert Bekaert, Thierry Bracke, (2007)

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by Marcel Fratzscher , Matthieu Bussiere , Menzie Chinn , Michael Ehrmann , Michael Fidora , Frank Moss , Chiara Osbat , Georges Pineau , Roberto Rigobon , Michael Sager , Lucio Sarno , Bernd Schnatz , Martin Skala , Christian Thimann , Shang-jin Wei , Atze Winkler , Jon Wongswan As