Published in Global Equity Markets, R. A. Schwartz (ed.) Irwin Professional. New York: 1995.

* I thank Kalman Cohen, Bob Wood, Bob Schwartz, and other participants of the Global Equity Markets conference for their comments and suggestions.

** Stern School of Business, New York, NY 10012, tel. (212) 998-0864, fax (212) 995-4218, e-mail: neconomi@stern.nyu.edu, www: http://raven.stern.nyu.edu/networks/

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