International Investment Patterns

Philip Lane and Gian Maria Milesi-Ferretti ()

No 2004/134, IMF Working Papers from International Monetary Fund

Abstract: The paper provides 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. It develops a model that links bilateral equity holdings to bilateral trade in goods and services and finds that the data strongly support such a correlation. Larger bilateral positions are also associated with proxies for informational proximity. It further documents that the scale of aggregate foreign equity asset and liability holdings is larger for richer countries and countries with more developed stock markets.

Keywords: WP; equity holding; equity investment; dependent variable; market cap (search for similar items in EconPapers)
Pages: 45
Date: 2004-07-01
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Citations: View citations in EconPapers (94)

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Related works:
Journal Article: International Investment Patterns (2008)
Working Paper: International Investment Patterns (2005)
Working Paper: International Investment Patterns (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2004/134

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