International investment patterns: evidence using a new dataset

Mishra, Anil V. (2006) International investment patterns: evidence using a new dataset. Research In International Business and Finance, 21 (2). pp. 342-360. ISSN 0275-5319

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Abstract

This paper examines the bilateral, source and host factors driving portfolio equity investment across a set of countries using International Monetary Fund’s new dataset on international equity holdings at the end of 1997, 2001 and 2002. This paper finds that the bilateral equity investment is strongly correlated with the underlying patterns of trade in goods and services. The information asymmetries and cultural-institutional proximity are important for bilateral equity investment. The size of domestic stock market is the key correlate of aggregate foreign portfolio equity asset and liability holdings. The scale of aggregate foreign equity asset holdings is larger for richer countries.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Depositing User: Dr Anil Mishra
Faculty / Department / School: Historic - Faculty of Business - Department of Finance and Banking
Date Deposited: 11 Oct 2007 00:58
Last Modified: 02 Jul 2013 22:42
Uncontrolled Keywords: international portfolio equity investment; source and host country factors; trade
Fields of Research (FOR2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management
16 Studies in Human Society > 1604 Human Geography > 160401 Economic Geography
14 Economics > 1402 Applied Economics > 140210 International Economics and International Finance
Socio-Economic Objective (SEO2008): B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910109 Savings and Investments
Identification Number or DOI: doi: 10.1016/j.ribaf.2006.09.002
URI: http://eprints.usq.edu.au/id/eprint/2172

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