International Investment Patterns
Gian Maria Milesi-Ferretti () and
Philip Lane
No 4499, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Abstract:
We provide a systematic analysis of bilateral, source and host factors driving portfolio equity investment across countries, using newly released data on international equity holdings at the end of 2001. We develop a model that links bilateral equity holdings to bilateral trade in goods and services and find that the data strongly support such a correlation. Larger bilateral positions are also associated with proxies for informational proximity. We further document that the scale of aggregate foreign equity asset and liability holdings is larger for richer countries and countries with more developed stock markets.
Keywords: International portfolio equity investment; International trade; Gravity (search for similar items in EconPapers)
JEL-codes: F21 F34 (search for similar items in EconPapers)
Date: 2004-07
References: Add references at CitEc
Citations: View citations in EconPapers (80)
Downloads: (external link)
https://cepr.org/publications/DP4499 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org
Related works:
Journal Article: International Investment Patterns (2008) 
Working Paper: International Investment Patterns (2005) 
Working Paper: International Investment Patterns (2004) 
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:cpr:ceprdp:4499
Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP4499
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().