Using a panel fractional regression model to evaluate the determinants of shares of international investment positions, we find some strong empirical support to the claim that a diversification motive is relevant. It turns out that less synchronized economies attract larger portfolio investment shares. The utmost relevance of trade relationships among countries in shaping international investment positions is also confirmed. (C) 2013 Elsevier B.V. All rights reserved.
Cross-border equity portfolio choices and the diversification motive. A fractional regression approach / Pericoli, F. M.; Pierucci, E.; Ventura, Luigi. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - STAMPA. - 121:2(2013), pp. 282-286. [10.1016/j.econlet.2013.08.026]
Cross-border equity portfolio choices and the diversification motive. A fractional regression approach
Pericoli, F. M.;Pierucci, E.;Ventura, Luigi
2013
Abstract
Using a panel fractional regression model to evaluate the determinants of shares of international investment positions, we find some strong empirical support to the claim that a diversification motive is relevant. It turns out that less synchronized economies attract larger portfolio investment shares. The utmost relevance of trade relationships among countries in shaping international investment positions is also confirmed. (C) 2013 Elsevier B.V. All rights reserved.File | Dimensione | Formato | |
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