Investment behaviors of the key actors in capitalism: when geography matters
The article investigates the geography of finance via an analysis of the investment behavior of large international equity investors. The main argument is based on the importance of financial markets and capital flows and on the central role played in them by institutional investors, the key actors of capitalism. This paper is original because it introduces geographic criteria, and thus institutional and cultural factors, for understanding the behaviour of investors. We present evidence on the diversity of models of capitalism while questioning the convergence of national economies and markets towards a pattern often termed “the Anglo-Saxon model”.
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