Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets /

An analysis of mutual-fund-level flow data into EM bond and equity markets confirms that different types of funds behave differently. Bond funds are more sensitive to global factors and engage more in return chasing than equity funds. Flows from retail, open-end, and offshore funds are more volatile...

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Библиографические подробности
Главный автор: Brandao Marques, Luis
Другие авторы: Gelos, R., Ichiue, Hibiki, Oura, Hiroko
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 2015.
Серии:IMF Working Papers; Working Paper ; No. 2015/277
Online-ссылка:Full text available on IMF
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245 1 0 |a Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets /  |c Luis Brandao Marques, R. Gelos, Hibiki Ichiue, Hiroko Oura. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a An analysis of mutual-fund-level flow data into EM bond and equity markets confirms that different types of funds behave differently. Bond funds are more sensitive to global factors and engage more in return chasing than equity funds. Flows from retail, open-end, and offshore funds are more volatile. Global funds are more stable in their EM investments than "dedicated" EM funds. Differences in the stability of flows from ultimate investors play a key role in explaining these patterns. The changing mix of global investors over the past 15 year has probably made portfolio flows to EMs more sensitive to global financial conditions. 
538 |a Mode of access: Internet 
700 1 |a Gelos, R. 
700 1 |a Ichiue, Hibiki. 
700 1 |a Oura, Hiroko. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2015/277 
856 4 0 |z Full text available on IMF  |u https://elibrary.imf.org/openurl?genre=journal&issn=1018-5941&volume=2015&issue=277  |z IMF e-Library