Publications
KIEP Opinions
Global Investor Base Diversity and Portfolio Capital Flows
- Author LIM Tae-Hoon
- Date2015-07-03
Instabilities in financial markets are often associated with strategic complementarities. The existing theories suggest the degree of strategic complementarities can be closely related to diversity of investor base and liquidity of traded assets. Empirical findings from international capital flows show the importance of investor base diversity especially for generally illiquid markets. The findings suggest several possible avenues to improve the stability of financial markets.
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