A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds
Eduardo Borensztein and
R. Gaston Gelos
Additional contact information
Eduardo Borensztein: International Monetary Fund
IMF Staff Papers, 2003, vol. 50, issue 1, 3
This article explores the behavior of emerging market mutual funds using a novel database covering the holdings of individual funds over the period January 1996 to December 2000. The degree of herding among funds is statistically significant, but moderate. Herding is more widespread among open-ended funds than among closed-end funds, but not more prevalent during crises than during tranquil times. We find some evidence that funds tend to follow momentum strategies, selling past losers and buying past winners. Copyright 2003, International Monetary Fund
JEL-codes: F21 G15 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (80) Track citations by RSS feed
Downloads: (external link)
http://www.imf.org/External/Pubs/FT/staffp/2003/01/pdf/boren.pdf main text (application/pdf)
Access to full text is restricted to subscribers.
Working Paper: A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds (2001)
Working Paper: A Panic-Prone Pack? the Behavior of Emerging Market Mutual Funds (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pal:imfstp:v:50:y:2003:i:1:p:3
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41308/PS2
Access Statistics for this article
More articles in IMF Staff Papers from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().