| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29432 |
| 来源ID | Working Paper 29432 |
| Nonlinearities and a Pecking Order in Cross-border Investment | |
| Sara B. Holland; Sergei Sarkissian; Michael Schill; Francis E. Warnock | |
| 发表日期 | 2021-11-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Nonlinearities arise in international investment because of a pecking order in barriers. Some severe barriers render all others meaningless, and only when alleviated do other barriers become important. Quantile regressions, designed to model relations at more points than just the conditional mean, allow us to test various investment theories at different points in the distribution of bilateral cross-border equity holdings. Support is broadest for roles for information and familiarity but more limited for transaction costs. Our results can also help reconcile a number of findings in the literature by highlighting that datasets which focus on different points of the barriers (investment) distribution can naturally lead to different results. Going forward, as the literature focuses on specialized datasets and granularity / asset demand systems, analysis should incorporate nonlinearities inherent in cross-border barriers and investment. |
| 主题 | International Economics ; Trade ; International Factor Mobility ; International Finance ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w29432 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587105 |
| 推荐引用方式 GB/T 7714 | Sara B. Holland,Sergei Sarkissian,Michael Schill,et al. Nonlinearities and a Pecking Order in Cross-border Investment. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29432.pdf（1195KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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