Do capital flows respond to risk and return? (English)

This paper explores empirically the role of risk and return in the observed evolution of net foreign asset positions of industrial and developing economies. The paper adopts a dynamic approach in which investors' portfolios adjust gradually to their long-run equilibrium, defined by a standard Tobin-Markowitz framework. The parameters characterizing the long-run equilibrium are estimated using data on foreign assets and liabilities of a large number...

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Author

Calderon,Cesar;

Loayza,Norman V.;

Serven,Luis;
Document Date
2003/05/31
Document Type
Policy Research Working Paper
Report Number
WPS3059
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2010/07/01
Disclosure Status
Disclosed
Doc Name
Do capital flows respond to risk and return?
Keywords
net foreign asset

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Citation

Calderon,Cesar; Loayza,Norman V.; Serven,Luis.

Do capital flows respond to risk and return? (English). Policy, Research working paper series|no. WPS 3059 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/745111468764135729

Do capital flows respond to risk and return? (English)

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