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Global Capital Allocation
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DOI：10.1146/annurev-economics-081623-020427.png)
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Abstract
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
Keywords:
tax havens
global portfolios
home bias
home currency bias
role of the USdollar
Journal
IF:
11.4
Papers:
356
Citations:
4.5K
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