Financial globalization and emerging market portfolios:
"Although emerging market Asian economies have experienced high growth without crises for close to a decade, many commentators find the large buildup of foreign exchange reserves among these economies both puzzling and evidence of incipient global imbalances. This paper reviews some of the expe...
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Tokyo
IMES
2007
|
| Series: | Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan
2007,13 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "Although emerging market Asian economies have experienced high growth without crises for close to a decade, many commentators find the large buildup of foreign exchange reserves among these economies both puzzling and evidence of incipient global imbalances. This paper reviews some of the experience of Asian countries over the last decade. We focus on the degree to which Asian economies have experienced financial globalization, meaning that their gross external asset and liability positions have grown significantly. In particular, while Asian economies have become significant gross creditors in bonds and other fixed income assets, their liability position in equity and FDI assets has also grown significantly. We show that a simple dynamic general equilibrium model of portfolio choice in an emerging market economy can account for this trend remarkably well."--Author's description. |
| Physical Description: | 17 S. graph. Darst. |
Staff View
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Record in the Search Index
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| geographic_facet | Asien |
| id | DE-604.BV023107934 |
| illustrated | Illustrated |
| index_date | 2024-07-02T19:47:16Z |
| indexdate | 2024-07-09T21:11:12Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016310581 |
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| physical | 17 S. graph. Darst. |
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| publishDate | 2007 |
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| publisher | IMES |
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| series2 | Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan |
| spelling | Devereux, Michael B. Verfasser (DE-588)12492624X aut Financial globalization and emerging market portfolios Michael B. Devereux Tokyo IMES 2007 17 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan 2007,13 "Although emerging market Asian economies have experienced high growth without crises for close to a decade, many commentators find the large buildup of foreign exchange reserves among these economies both puzzling and evidence of incipient global imbalances. This paper reviews some of the experience of Asian countries over the last decade. We focus on the degree to which Asian economies have experienced financial globalization, meaning that their gross external asset and liability positions have grown significantly. In particular, while Asian economies have become significant gross creditors in bonds and other fixed income assets, their liability position in equity and FDI assets has also grown significantly. We show that a simple dynamic general equilibrium model of portfolio choice in an emerging market economy can account for this trend remarkably well."--Author's description. Globalisierung Mathematisches Modell Balance of payments Asia Mathematical models Finance Asia Mathematical models Foreign exchange rates Asia Mathematical models Globalization Economic aspects Asia Mathematical models Asien Institute for Monetary and Economic Studies, Bank of Japan Discussion paper series 2007,13 (DE-604)BV010647223 2007,13 http://www.imes.boj.or.jp/english/publication/edps/2007/07-E-13.pdf Verlag kostenfrei Volltext |
| spellingShingle | Devereux, Michael B. Financial globalization and emerging market portfolios Globalisierung Mathematisches Modell Balance of payments Asia Mathematical models Finance Asia Mathematical models Foreign exchange rates Asia Mathematical models Globalization Economic aspects Asia Mathematical models |
| title | Financial globalization and emerging market portfolios |
| title_auth | Financial globalization and emerging market portfolios |
| title_exact_search | Financial globalization and emerging market portfolios |
| title_exact_search_txtP | Financial globalization and emerging market portfolios |
| title_full | Financial globalization and emerging market portfolios Michael B. Devereux |
| title_fullStr | Financial globalization and emerging market portfolios Michael B. Devereux |
| title_full_unstemmed | Financial globalization and emerging market portfolios Michael B. Devereux |
| title_short | Financial globalization and emerging market portfolios |
| title_sort | financial globalization and emerging market portfolios |
| topic | Globalisierung Mathematisches Modell Balance of payments Asia Mathematical models Finance Asia Mathematical models Foreign exchange rates Asia Mathematical models Globalization Economic aspects Asia Mathematical models |
| topic_facet | Globalisierung Mathematisches Modell Balance of payments Asia Mathematical models Finance Asia Mathematical models Foreign exchange rates Asia Mathematical models Globalization Economic aspects Asia Mathematical models Asien |
| url | http://www.imes.boj.or.jp/english/publication/edps/2007/07-E-13.pdf |
| volume_link | (DE-604)BV010647223 |
| work_keys_str_mv | AT devereuxmichaelb financialglobalizationandemergingmarketportfolios |