Research Article
Analysis of Investment Returns as Markov Chain Random Walk
Table 2
Parameter estimates by country.
| Country | Parameter estimate | | | |
| Canada | 0.30741 | 0.19444 | 0.49815 | India | 0.33704 | 0.12593 | 0.53704 | Mexico | 0.28889 | 0.14815 | 0.56296 | South Africa | 0.28333 | 0.17963 | 0.53704 | Switzerland | 0.29074 | 0.20926 | 0.50000 |
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Source: Authors’ computation.
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