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Global Capital Allocation
DOI:10.1146/annurev-economics-081623-020427.png)
摘要
En 中文
We survey the literature on global capital allocation. We begin by reviewingthe rise of cross-border investment, the shift toward portfolio investment,and the literature focusing on aggregate patterns in multilateral and bilat-eral positions. We then turn to the recent literature that uses micro data todocument patterns in global capital allocations. We focus on the importanceof the currency of denomination of assets in international portfolios and therole that tax havens and offshore financial centers play in intermediatingglobal capital. We conclude with directions for future research in this area
Keyword:
tax havens
global portfolios
home bias
home currency bias
role of the USdollar
期刊
IF:
11.4
论文数:
356
被引数:
4.5K
机构
引用论文
The Missing Wealth of Nations: Are Europe and the US net Debtors or net Creditors?国家财富的缺失: 欧洲和美国是净债务人还是净债权人?

