Publication

Cyclical behavior of international fund flows

Li, S., de Haan, J. & Scholtens, B. 17-Jul-2017 In : Research in International Business and Finance. 43, p. 99-112 14 p.

Research output: Scientific - peer-reviewArticle

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DOI

Using monthly data, we investigate the cyclicality of international fund flows employing correlation and regression analysis. International fund flows are investments by funds like mutual funds, exchange traded funds, closed-end funds and hedge funds. Our results suggest that contemporaneously international fund flows tend to be counter-cyclical, i.e. in an economic downswing fund flows move into the country. The cyclicality of bond flows is more significant than that of equity flows. Global factors dominate the behavior of international fund flows, especially for equity flows.
Original languageEnglish
Pages (from-to)99-112
Number of pages14
JournalResearch in International Business and Finance
Volume43
Early online date17-Jul-2017
StateE-pub ahead of print - 17-Jul-2017

    Keywords

  • international fund flows, cyclicality, equity flows, bond flows, push and pull factors

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