The determinants of U.S. portfolio equity and bond flows to Southeast Asian economies: A regional approach and countrywide approach

Clicks: 2
ID: 285855
2002
Free PDF
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This article has not been analysed, so there is no overall score — reader engagement is measured and shown alongside.
AI Quality Assessment
Not analyzed
Readership in this journal
Star

Ranked #2,204 of 3,757 articles by views in Malay Journal

Most read Least read

Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 3,757 in total.

Mint this article as an NFT
Not yet minted

Create a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.

5 SUSD one-off · no wallet required
Sign in to mint
Abstract
There is an ongoing debate as to the potential causes of portfolio flows to developing countries during the 1990s. Some say the surge in portfolio flows is due to global factors while some consider country-specific factors to be more important. This paper tries to contribute to the current literature by investigating the potential determinants of U.S. portfolio equity and bond flows to Southeast Asian economies. It is noted that Southeast Asia received significant amount of portfolio capital from developed countries during the 1990s and is considered to be a major recipient of such flows in future years. By extracting a mixed number of global and country-specific variables and utilizing two approaches: 1) panel data estimation and 2) individual country time-series regression, the experiment yielded interesting results.The results of the panel data estimation indicate that the determinants of U.S. portfolio equity flows to Southeast Asia are global and country-specific factors. On the other hand, the determinant of U.S. portfolio bond flows to the region turned out to be a global factor. The results of the time-series regressions depict a mixed picture with different determinants per type of flow and per country. For Indonesia and Malaysia, global and country-specific factors are equally important in determining U.S. portfolio equity flows. In the case of the Philippines, global factors are more important in determining U.S. portfolio equity flows while its U.S. portfolio bond inflows are due to global and country-specific factors. Lastly, U.S. portfolio equity and bond flows to Thailand are both mainly caused by country specific effects. It is surmised that the differences in the individual country results may be due to the differences in the level of financial openness or the level of capital market integration of the sample countries to the global market. It is also argued that countries that are significantly determined by global (as against country-specific ) factors have higher level of capital market integration. Among the reasons for the different levels of capital market integration are investment barriers (e.g. limited size of stock market, regulation, political events, taxes, etc.) A number of anecdotal evidence is noted to supplement this analysis.
Reference Key
persistent_1760656856_68f17dd8b4cf0 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Taningco, Angelo Ballesteros
Journal Malay Journal
Year 2002
DOI
DOI not found
URL
https://animorepository.dlsu.edu.ph/etd_masteral/2638
Keywords Keywords not found

Citations

No citations found. To add a citation, contact the admin at info@scimatic.org

Comments

No comments yet. Be the first to comment on this article.