Arbeitspapier
Are Foreign Institutional Investors Good for Emerging Markets?
Portfolio flows channeled via institutional investors were the most dynamic capital flows to emerging markets in the 1990s. We use an asymmetric information framework to derive five propositions, to integrate empirical evidence and to suggest policy implications. Opaque information in emerging markets hinders foreign market entrants. Moreover, following financial opening, institutional investors can worsen the position of local investors due to unintentionally creating unbalanced diversification and obscure risks. Finally, foreign institutional investors often amplify investment booms and financial contagion. Therefore, capital account and financial market liberalization needs to be accompanied by careful regulation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeitrag ; No. 283
- Klassifikation
-
Wirtschaft
Current Account Adjustment; Short-term Capital Movements
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- Thema
-
Portfolio Flows
Institutional Investors
Emerging Markets
Asymmetric Information
International Capital Flows
Portfolio-Investition
Institutioneller Anleger
Internationale Kapitalmobilität
Asymmetrische Information
Aufstrebende Märkte
Finanzmarktkrise
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Menkhoff, Lukas
Frenkel, Michael
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (wo)
-
Hannover
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Menkhoff, Lukas
- Frenkel, Michael
- Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Entstanden
- 2003
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