| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3843 |
| DP3843 Which Investors Fear Expropriation? Evidence from Investors' Stock Picking | |
| Mariassunta Giannetti; Andrei Simonov | |
| 发表日期 | 2003-03-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal, and the actual amount of the flow is determined by the ?short side? of the market. We are thus able to detect instances of ?international capital crunch? ? where capital flows are curtailed because of supply-side rationing ? and to relate these instances to movements in the underlying fundamentals. The analysis highlights the role of asymmetric information ? as distinct from the traditional concern with default risk ? in conditioning capital flows. |
| 主题 | International Macroeconomics |
| 关键词 | Capital flows Disequilibrium Rationing Asymmetric information |
| URL | https://cepr.org/publications/dp3843 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532826 |
| 推荐引用方式 GB/T 7714 | Mariassunta Giannetti,Andrei Simonov. DP3843 Which Investors Fear Expropriation? Evidence from Investors' Stock Picking. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
