Portfolio Capital Flows in Thailand: A Bayesian Model Averaging Approach

Somrasri Yupho and Xianguo Huang

Emerging Markets Finance and Trade, 2014, vol. 50, issue S2, 89-99

Abstract: We study the gross and net terms of portfolio capital flows by examining their determinants. Through the application of the Bayesian model averaging method, the determinants are evaluated by a set of models instead of a single specification. Our findings show that the magnitude of both gross equity and gross debt flows are large, relative to their net terms. Equity inflows and outflows are quite symmetric with similar determinants; debt inflows and outflows are less symmetric. The paper provides partial evidence to support the importance of both internal and external factors as determinants of capital flows.

Date: 2014
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Journal Article: Portfolio Capital Flows in Thailand: A Bayesian Model Averaging Approach (2014)
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DOI: 10.2753/REE1540-496X5002S206

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