The behaviour of closed-end country fund prices in the Asian NIEs

Abdur Chowdhury ()

Applied Economics Letters, 1994, vol. 1, issue 12, 219-222

Abstract: This paper tests the impact of international investment restrictions on closed-end country funds in four Asian countries - Hong Kong, Korea, Singapore and Taiwan. The results show that the relationship between the premiums or discounts on closed-end country funds and announcements of changes in investment restrictions is sensitive to how individual countries respond to foreign innovations. A strong relationship exists in countries with large restrictions on investment - Korea and Taiwan. However, the relationship seems to break down in countries where there are virtually no restrictions on investment - Hong Kong and Singapore.

Date: 1994
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DOI: 10.1080/135048594357772

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