Gli investimenti di portafoglio nelle economie di mercato emergenti: tendenze, dimensioni e problemi

Dilip K. Das
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Dilip K. Das: Asian Development Bank, Economic Analysis and Research Division, Manila

Moneta e Credito, 2000, vol. 53, issue 211, 301-341

Abstract: Securitised financial flows to emerging market economies have become an important feature of the global capital flows. The principal focus of this paper is on an in-depth analysis of current trends in securitised financial flows. It lays special emphasis on private portfolio equity investment into the emerging market economies. The paper begins with the analysis of the process of stimulation of these flows, and identifies the institutional, structural and non-cyclical factors behind them. One of the points it emphasises is the progressively important role of institutional investors, which is the causal factor behind a significant increase in the quantum of portfolio investment into the emerging market economies. These flows were adversely affected by the financial crises of the 1990s. The subject matter of this paper also includes two of the most important policy issues, namely, the "hot money and cold money" issue and the volatility issue.

Keywords: Capital Flows; Financial Flows; Portfolio (search for similar items in EconPapers)
JEL-codes: F32 G11 O16 P33 (search for similar items in EconPapers)
Date: 2000
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