| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7608 |
| DP7608 Japan's Lost Decade: Does Money have a Role? | |
| Fabio Canova; Tobias Menz | |
| 发表日期 | 2009-12-13 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We provide new evidence on the channels through which financial shocks are transmitted across international borders. Employing monthly data from 1996 to 2008 on over 1,000 developed country-domiciled mutual and hedge funds, we show that inflows and outflows experienced by these funds translate into significant changes in their portfolio allocations in 25 emerging markets. Despite funds' efforts to ameliorate the price impact of these portfolio allocation shifts, they substantially impact emerging market equity returns, and are associated with increases in co-movement between emerging and developed markets. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Co-movement Contagion Hedge funds International finance Mutual funds |
| URL | https://cepr.org/publications/dp7608 |
| 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/536445 |
| 推荐引用方式 GB/T 7714 | Fabio Canova,Tobias Menz. DP7608 Japan's Lost Decade: Does Money have a Role?. 2009. |
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