Global Capital Allocation

Sergio Florez-Orrego, Matteo Maggiori, Jesse Schreger (), Ziwen Sun and Serdil Tinda
Additional contact information
Sergio Florez-Orrego: Leonard N. Stern School of Business, New York University, New York, NY, USA
Jesse Schreger: Economics Division, Columbia Business School, Columbia University, New York, NY, USA
Ziwen Sun: Graduate School of Business, Stanford University, Stanford, California, USA
Serdil Tinda: Graduate School of Business, Stanford University, Stanford, California, USA

Annual Review of Economics, 2024, vol. 16, issue 1, 623-53

Abstract: We survey the literature on global capital allocation. We begin by reviewing the rise of cross-border investment, the shift toward portfolio investment, and the literature focusing on aggregate patterns in multilateral and bilateral positions. We then turn to the recent literature that uses micro data to document patterns in global capital allocations. We focus on the importance of the currency of denomination of assets in international portfolios and the role that tax havens and offshore financial centers play in intermediating global capital. We conclude with directions for future research in this area.

Keywords: global portfolios; tax havens; role of the US dollar; home currency bias; home bias (search for similar items in EconPapers)
JEL-codes: F3 F34 F36 F38 G15 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1146/annurev-economics-081623-020427
Full text downloads are only available to subscribers. Visit the abstract page for more information.

Related works:
Working Paper: Global Capital Allocation (2023)
Working Paper: Global Capital Allocation (2023)
Working Paper: Global Capital Allocation (2023)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:anr:reveco:v:16:y:2024:p:623-53

Ordering information: This journal article can be ordered from
http://www.annualreviews.org/action/ecommerce

DOI: 10.1146/annurev-economics-081623-020427

Access Statistics for this article

More articles in Annual Review of Economics from Annual Reviews Annual Reviews 4139 El Camino Way Palo Alto, CA 94306, USA.
Bibliographic data for series maintained by http://www.annualreviews.org ().