Cross-border portfolio investment in the APEC region

Hyun Hoon Lee, Hyeon Seung Huh, Won Joong Kim

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

This paper aims to establish a firm understanding of the structure and determinants of bilateral portfolio investment among APEC economies. The paper demonstrates that APEC membership has a significantly positive relationship with financial transactions among members. That is, as compared with non-members, APEC member economies purchase more equities and long-term bonds from other APEC member economies. However, the APEC membership effect is not uniform: the positive effect of APEC membership is mainly due to the overshadowing role of East Asian countries. This finding is especially evident for equities, rather than for long-term bonds. This paper also shows that a large part of the regional financial market integration in the APEC region is due to strong linkages of intra-regional goods trade in the region.

Original languageEnglish
Pages (from-to)44-56
Number of pages13
JournalJapan and the World Economy
Volume24
Issue number1
DOIs
Publication statusPublished - 2012 Jan 1

Fingerprint

APEC
economy
equity
financial market
Portfolio investment
Cross-border
transaction
purchase
determinants
Equity
firm

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics
  • Political Science and International Relations

Cite this

Lee, Hyun Hoon ; Huh, Hyeon Seung ; Kim, Won Joong. / Cross-border portfolio investment in the APEC region. In: Japan and the World Economy. 2012 ; Vol. 24, No. 1. pp. 44-56.
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Cross-border portfolio investment in the APEC region. / Lee, Hyun Hoon; Huh, Hyeon Seung; Kim, Won Joong.

In: Japan and the World Economy, Vol. 24, No. 1, 01.01.2012, p. 44-56.

Research output: Contribution to journalArticle

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