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International Capital Flows: An empirical study of the relationship between equity and debt investments

  • Sahoo, Ganeswar

Capital flows in today’s arena is a hot topic attracting many researchers to do some contributions. International capital flows are rapidly increasing day by day with huge increases in volume of trade in equity and debt markets. This piece of work is an effort and a kind of approach in finding out the cross relationship between equity and debt investments in capital markets and the investor’s portfolio decisions between equity and debt investments in international financial markets. In this paper, I have studied intensively world equity market, world debt and bond market. The relationship between equity and debt investment has been computed using statistical methods like covariance and correlation with linear regression analysis with US market data of past 200 years. I examine the relationship between equity and debt and reach with a conclusion that there is an inverse relationship between equity and debt investment.

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File URL: http://mpra.ub.uni-muenchen.de/24797/1/MPRA_paper_24797.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24797.

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Date of creation: 10 Mar 2010
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Handle: RePEc:pra:mprapa:24797
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  1. Cécile Carpentier & Jean-François L'Her & Jean-Marc Suret, 2005. "The Costs of Issuing Private Versus Public Equity," CIRANO Working Papers 2005s-14, CIRANO.
  2. Gill, Indermit & Pinto, Brian, 2005. "Public debt in developing countries : has the market-based model worked?," Policy Research Working Paper Series 3674, The World Bank.
  3. Harald Hau & Helene Rey, 2004. "Can Portfolio Rebalancing Explain the Dynamics of Equity Returns, Equity Flows, and Exchange Rates?," NBER Working Papers 10476, National Bureau of Economic Research, Inc.
  4. Binici, Mahir & Hutchison, Michael & Schindler, Martin, 2010. "Controlling capital? Legal restrictions and the asset composition of international financial flows," Journal of International Money and Finance, Elsevier, vol. 29(4), pages 666-684, June.
  5. George W. Fenn & Nellie Liang & Stephen Prowse, 1995. "The economics of the private equity market," Staff Studies 168, Board of Governors of the Federal Reserve System (U.S.).
  6. Benjamin M. Friedman, 1983. "The Substitutability of Debt and Equity Securities," NBER Working Papers 1130, National Bureau of Economic Research, Inc.
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