The role of population and wealth in international capital flows
Purpose – Seeks to analyze the role of population and wealth in determining capital movements between countries. Design/methodology/approach – By applying the Clark-Jokung 50 percent portfolio theorem, considers the specific case of a two country world where the cumulative conditional expected outcome on the asset in one country is greater than or equal to that in the other country. Findings – Specifically, lower population and wealth ratios (poor/rich) increase net capital flows to the poor country. Originality/value – So far most of the literature on cross-border capital flows has generally neglected the role of population and underestimated the role of wealth. This study addresses the gaps left by these deficiencies.
Volume (Year): 23 (2006)
Issue (Month): 1 (March)
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