DATA THROUGH MARCH 1995
ERB, HARVEY AND VISKANTA
| | | Market | Monthly | Monthly | Beta With |
| | | Capitalization | Arithmetic | Standard | World Market |
| | | Millions US$ | Mean Return | Deviation | Last Five Years |
| Country | Source | Sample Start | March 1995 | Annualized | Annualized | Monthly |
|
| Argentina | IFC | October 1979 | $17,939 | 42.0% | 93.1% | 1.80 |
| Australia | MSCI | October 1979 | $120,148 | 15.1% | 26.6% | 1.27 |
| Austria | MSCI | October 1979 | $18,222 | 13.8% | 25.2% | 0.62 |
| Belgium | MSCI | October 1979 | $53,215 | 17.6% | 21.2% | 0.53 |
| Brazil | IFC | October 1979 | $81,800 | 33.1% | 64.0% | 0.68 |
| Canada | MSCI | October 1979 | $178,656 | 9.7% | 19.6% | 0.75 |
| Chile | IFC | October 1979 | $45,500 | 24.9% | 32.0% | 0.45 |
| China | IFC | April 1993 | $28,407 | 6.3% | 86.6% | 0.35 |
| Colombia | IFC | October 1985 | $10,620 | 39.7% | 31.4% | -0.19 |
| Denmark | MSCI | October 1979 | $36,785 | 15.4% | 20.1% | 0.70 |
| Finland | MSCI | April 1988 | $25,685 | 8.1% | 26.8% | 1.66 |
| France | MSCI | October 1979 | $299,756 | 15.0% | 23.4% | 1.06 |
| Germany | MSCI | October 1979 | $311,842 | 14.1% | 22.4% | 0.67 |
| Greece | IFC | October 1979 | $9,799 | 7.9% | 37.9% | 0.62 |
| Hong Kong | MSCI | October 1979 | $141,414 | 24.2% | 33.9% | 1.36 |
| Hungary | IFC | April 1993 | $759 | -3.5% | 41.5% | 1.68 |
| India | IFC | October 1979 | $71,904 | 17.4% | 29.5% | -0.09 |
| Indonesia | IFC | October 1990 | $21,841 | 3.3% | 30.8% | 0.92 |
| Ireland | MSCI | April 1988 | $13,187 | 13.7% | 22.6% | 1.17 |
| Italy | MSCI | October 1979 | $97,527 | 15.2% | 27.7% | 0.64 |
| Japan | MSCI | October 1979 | $2,098,944 | 17.8% | 25.1% | 1.87 |
| Jordan | IFC | October 1979 | $3,093 | 9.2% | 17.5% | 0.07 |
| Malaysia | IFC | October 1985 | $138,774 | 16.6% | 27.4% | 0.73 |
| Mexico | IFC | October 1979 | $47,962 | 20.8% | 46.5% | 0.92 |
| Netherlands | MSCI | October 1979 | $182,581 | 18.6% | 18.0% | 0.97 |
| New Zealand | MSCI | April 1988 | $18,906 | 9.2% | 25.4% | 1.61 |
| Nigeria | IFC | October 1985 | $654 | 10.5% | 54.6% | 0.86 |
| Norway | MSCI | October 1979 | $19,010 | 14.1% | 27.9% | 1.37 |
| Pakistan | IFC | October 1985 | $7,758 | 19.1% | 24.3% | -0.28 |
| Peru | IFC | April 1993 | $5,266 | 30.2% | 40.2% | 1.36 |
| Philippines | IFC | October 1985 | $30,043 | 42.9% | 37.4% | 0.68 |
| Poland | IFC | April 1993 | $1,713 | 97.3% | 96.3% | 3.90 |
| Portugal | IFC | October 1986 | $11,662 | 32.6% | 44.7% | 1.03 |
| Singapore | MSCI | October 1979 | $55,835 | 16.1% | 25.7% | 0.95 |
| South Africa | IFC | April 1993 | $140,934 | 43.8% | 26.7% | 0.80 |
| South Korea | IFC | October 1979 | $123,159 | 16.0% | 30.6% | 0.26 |
| Spain | MSCI | October 1979 | $73,334 | 15.3% | 24.1% | 1.42 |
| Sri Lanka | IFC | April 1993 | $1,648 | 18.9% | 34.1% | 0.02 |
| Sweden | MSCI | October 1979 | $76,728 | 21.6% | 24.0% | 1.66 |
| Switzerland | MSCI | October 1979 | $240,254 | 14.2% | 19.2% | 0.77 |
| Taiwan | IFC | October 1985 | $147,472 | 35.8% | 51.3% | 1.11 |
| Thailand | IFC | October 1979 | $90,882 | 22.1% | 27.1% | 0.32 |
| Turkey | IFC | October 1987 | $19,541 | 45.1% | 73.1% | 0.08 |
| United Kingdom | MSCI | October 1979 | $779,121 | 16.4% | 21.5% | 1.14 |
| United States | MSCI | October 1979 | $3,030,838 | 14.8% | 15.0% | 0.43 |
| Venezuela | IFC | October 1985 | $2,992 | 21.7% | 46.1% | 0.47 |
| Zimbabwe | IFC | October 1979 | $1,179 | 13.3% | 35.3% | 0.69 |
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