Where do Australians invest?

Mishra, Anil and Daly, Kevin (2006) Where do Australians invest? Australian Economic Review, 39 (1). pp. 47-59. ISSN 1467-8462

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Abstract

In this article, we analyse the geography of Australia’s international portfolio investment using the International Monetary Fund’s Coordinated Portfolio Investment Survey dataset. Preliminary results suggest that Australia’s external holdings of equity and debt as a percentage of national income almost doubled between 1997 and 2001. However, Australia’s international investment position as a percentage of national income is one of the lowest amongst the major OECD countries. In 2001 approximately two-thirds of Australia’s total investments were in the United States and the United Kingdom. By contrast Australia’s trade share (exports plus imports as a percentage of Australia’s total world trade) with these countries was approximately 20 per cent in the same year. The major determinants of Australia’s geographical allocation of portfolio investment indicate a broad correspondence between stock market capitalisation of destination countries and the allocation of Australian financial investments but with some deviations from that baseline, where the deviations are correlated with Australian trade patterns.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Awaiting copyright advice. 'The definitive version is available at www.blackwell-synergy.com.'
Depositing User: Dr Anil Mishra
Faculty / Department / School: Historic - Faculty of Business - Department of Accounting
Date Deposited: 11 Oct 2007 01:11
Last Modified: 02 Jul 2013 22:45
Uncontrolled Keywords: coordinated portfolio investment survey; accounting; standards; invest; investment; investments; Australia; banks; finance; portfolio
Fields of Research (FOR2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management
14 Economics > 1402 Applied Economics > 140210 International Economics and International Finance
14 Economics > 1402 Applied Economics > 140207 Financial Economics
Socio-Economic Objective (SEO2008): B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910109 Savings and Investments
Identification Number or DOI: doi: 10.1111/j.1467-8462.2006.00395.x
URI: http://eprints.usq.edu.au/id/eprint/2622

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