International Investment Patterns: The Case of German Sectors
In this paper we exploit the newly augmented Coordinated Portfolio Investment Survey data of the IMF to study the cross-border inter-sectoral portfolio asset holdings of Germany. Our analysis reveals a significant degree of heterogeneity in German international asset positions of various holding entities. The findings of our study also suggest differential relations between portfolio holdings and a set of ``gravity-style'' factors across holder-issuer pairings of various sectors. We conclude that aggregate-level patterns in international portfolio holdings may not persist in sectoral data.
|Date of creation:||Jan 2017|
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- Galstyan, Vahagn & Lane, Philip R. & Mehigan, Caroline & Mercado, Rogelio, 2016.
"The holders and issuers of international portfolio securities,"
Journal of the Japanese and International Economies,
Elsevier, vol. 42(C), pages 100-108.
- Vahagn Galstyan & Philip Lane & Caroline Mehigan & Rogelio Mercado, 2015. "The Holders and Issuers of International Portfolio Securities," NBER Chapters,in: International Finance in the Global Markets National Bureau of Economic Research, Inc.
- Vahagn Galstyan & Philip R. Lane & Caroline Mehigan & Rogelio Mercado, 2016. "The Holders and Issuers of International Portfolio Securities," NBER Working Papers 22466, National Bureau of Economic Research, Inc.
- Vahagn Galstyan & Philip R. Lane & Caroline Mehigan & Rogelio Mercado, 2016. "The Holders and Issuers of International Portfolio Securities," Trinity Economics Papers tep0916, Trinity College Dublin, Department of Economics.
- Okawa, Yohei & van Wincoop, Eric, 2012. "Gravity in International Finance," Journal of International Economics, Elsevier, vol. 87(2), pages 205-215.
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