Are institutional investors an important source of portfolio investment in emerging markets?
The author examines five major industrial countries'portfolio investment in developing countries to learn if institutional investors are significant investors in emerging developing countries. The data reveals considerable divergence in the pattern of outward portfolio flow for the industrial countries studied. Evidence on asset composition and discussion with market participants suggest that major institutional investors (such as pension funds and insurance companies) have tended to approach the markets for emerging developing countries cautiously. They invest only a tiny fraction of their portfolios in emerging market securities. The author finds that investor-country regulations governing outward portfolio investment were a significant constraint only in Germany.
|Date of creation:||31 Jan 1994|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kenneth R. French & James M. Poterba, 1991.
"Investor Diversification and International Equity Markets,"
NBER Working Papers
3609, National Bureau of Economic Research, Inc.
- French, Kenneth R & Poterba, James M, 1991. "Investor Diversification and International Equity Markets," American Economic Review, American Economic Association, vol. 81(2), pages 222-26, May.
- Gooptu, Sudarshan, 1993. "Portfolio investment flows to emerging markets," Policy Research Working Paper Series 1117, The World Bank.
- Chuhan, Punam & Claessens, Stijn & Mamingi, Nlandu, 1998. "Equity and bond flows to Latin America and Asia: the role of global and country factors," Journal of Development Economics, Elsevier, vol. 55(2), pages 439-463, April.
- Leonardo Leiderman & Carmen Reinhart & Guillermo Calvo, 1992.
"Capital Inflows and Real Exchange Rate Appreciation in Latin America; The Role of External Factors,"
IMF Working Papers
92/62, International Monetary Fund.
- Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 108-151, March.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1993. "“Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," MPRA Paper 7125, University Library of Munich, Germany.
- Lakonishok, Joseph & Shleifer, Andrei & Vishny, Robert W., 1992. "The Structure and Performance of the Money Management Industry," Scholarly Articles 10498059, Harvard University Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:1243. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi)
If references are entirely missing, you can add them using this form.