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Sources of Funds

In: Global Capital Flows

Author

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  • Stephany Griffith-Jones

    (University of Sussex)

Abstract

The ultimate source of portfolio capital flows (both globally and to developing countries) originates in the wealth of individuals and of institutions. A very significant recent development in international financial markets is that individual investors have increasingly delegated the management of their assets to professional fund managers. As a consequence, the investor base in securities’ markets (in industrial countries, but increasingly also in developing countries) is dominated by a fairly small number of very large institutional investors. This institutionalization of savings is a major force behind the international diversification of portfolios, which has increased the sensitivity of securities markets — especially developing country ones — to the behaviour of a relatively small number of investors.

Suggested Citation

  • Stephany Griffith-Jones, 1998. "Sources of Funds," Palgrave Macmillan Books, in: Global Capital Flows, chapter 3, pages 52-82, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26912-9_3
    DOI: 10.1007/978-1-349-26912-9_3
    as

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