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Foreign portfolio investment patterns: evidence from a gravity model.
- Source :
- Empirical Economics; Jul2022, Vol. 63 Issue 1, p391-415, 25p, 10 Charts, 2 Graphs
- Publication Year :
- 2022
-
Abstract
- Cross-country capital flows have been widely studied in the literature; however, why some countries may form more similar foreign investment portfolios than others has not been investigated. Using data for a broad panel of countries during the period 2002–2015, we adopt gravity equations to estimate cross-country foreign portfolio investment patterns. The main empirical results reveal that countries are more likely to form similar foreign portfolio investment patterns if: (i) countries are geographically closer; (ii) countries share the same official language; and (iii) countries adopt fixed exchange rate regimes. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 03777332
- Volume :
- 63
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Empirical Economics
- Publication Type :
- Academic Journal
- Accession number :
- 157630587
- Full Text :
- https://doi.org/10.1007/s00181-021-02133-0