کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
964387 | 930518 | 2007 | 19 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Home bias and international risk sharing: Twin puzzles separated at birth
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We document that international home bias in debt and equity holdings declined during the period 1993-2003 at the same time as international risk sharing increased. Using panel-data regressions for OECD countries, we demonstrate that less home bias is associated with more international risk sharing. More generally, we show that more financial integration is associated with more risk sharing when we measure financial integration as the ratio of foreign assets to Gross Domestic Product. Our results indicate that risk sharing and international financial integration are closely related empirical phenomena.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 26, Issue 4, June 2007, Pages 587-605
Journal: Journal of International Money and Finance - Volume 26, Issue 4, June 2007, Pages 587-605
نویسندگان
Bent E. Sørensen, Yi-Tsung Wu, Oved Yosha, Yu Zhu,