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International Investment Patterns

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  • Philip R. Lane

    (IIIS and Economics Department, TCD, and CEPR)

  • Gian Maria Milesi-Ferretti

    (International Monetary Fund and CEPR)

Abstract

We provide a systematic analysis of the bilateral factors driving portfolio equity holdings across countries. We find that bilateral equity holdings are strongly correlated with bilateral trade in goods and services. Larger bilateral positions are also associated with proxies for informational proximity. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Bibliographic Info

Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 90 (2008)
Issue (Month): 3 (August)
Pages: 538-549

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Handle: RePEc:tpr:restat:v:90:y:2008:i:3:p:538-549

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