Have Institutional Investors Destabilized Emerging Markets? »
Journal Issue
Volume/Issue: 1996/34
Series: IMF Working Papers
Author(s): Brian Aitken
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 1996
DOI: http://dx.doi.org/10.5089/9781451978889.001
ISBN: 9781451978889
Keywords: institutional investors, stock markets, emerging market stocks, stock prices, international finance
In the past few years there has been a large increase in portfolio capital flows into emerging markets, mostly fueled by mutual funds and other institutional investors. Based on a simple variance ratio test, this p...