Financial liberalization and patterns of international portfolio holdings

Pedro Araujo (), Olena Mykhaylova () and James Staveley-O’Carroll ()
Authors registered in the RePEc Author Service: Olena Staveley-O'Carroll () and James Staveley-O'Carroll

Empirical Economics, 2015, vol. 49, issue 1, 213-234

Abstract: International financial markets during the past several decades have been characterized by a significant rise in gross international capital flows, increased prominence of nontraditional financial institutions, and globalization of the banking sector. We utilize a 155-country panel framework to present new evidence that financial liberalization is related to reallocation of financial capital around the world. More specifically, we find that deregulation is associated with greater stocks of cross-border financial assets, overall net international indebtedness, and a net portfolio characterized by equity assets and debt liabilities. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Financial liberalization; Portfolio holdings; Panel data analysis; E44; F21; F36 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://hdl.handle.net/10.1007/s00181-014-0863-1 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:spr:empeco:v:49:y:2015:i:1:p:213-234

Ordering information: This journal article can be ordered from
http://www.springer. ... rics/journal/181/PS2

DOI: 10.1007/s00181-014-0863-1

Access Statistics for this article

Empirical Economics is currently edited by Robert M. Kunst, Arthur H.O. van Soest, Bertrand Candelon, Subal C. Kumbhakar and Joakim Westerlund

More articles in Empirical Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().