A Portfolio Approach to a Cross-Sectoral and Cross-National Investment Strategy in Transition Economies
Willem Buiter,
Ricardo Lago and
Helene Rey
No 5882, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
This paper takes a systematic look at the portfolio choice problem faced by Investment Banks or Funds investing in transition economies. We relate the performance of projects in the transition economies to the broader macroeconomic and international environment, which affect the project through its input-output structure and its financial balance sheet. Among the macroeconomic determinants of enterprise behavior we consider are productivity growth, real wage growth, movements in the international terms of trade, shocks to the relative price of traded and non-traded goods, domestic and foreign interest rates, currency depreciation and the rate of inflation. We evaluate the attractiveness of alternative investment strategies and provisioning rules from the perspective of portfolio theory.
JEL-codes: G11 P27 (search for similar items in EconPapers)
Date: 1997-01
Note: IFM ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)
Published as The Economics of Transition, Vol.5, no.1 (1997), pp.63-96.
Downloads: (external link)
http://www.nber.org/papers/w5882.pdf (application/pdf)
Related works:
Journal Article: A portfolio approach to a cross‐sectoral and cross‐national investment strategy in transition economies (1997) 
Working Paper: A Portfolio Approach to a Cross-Sectoral and Cross-National Investment Strategy in Transition Economics (1997)
Working Paper: A Portfolio Approach to a Cross-sectoral and Cross-National Investment Strategy in Transition Economies (1997) 
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:nbr:nberwo:5882
Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w5882
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().