foreign exchange administration
what drives cross-border portfolio flows?
来源:
2022 issue 3
authro: gene ma, phoebe feng and andrew loevinger
portfolio investment flow to china is a weathervane for china's financial health and global investor confidence. chart 1 shows the capital flows via the stock and bond connects in february-june. we studied the forces that drive china's net bond and equity flows. it shows that relative economic growth，bond yields，rmb exchange rate，market volatility，and index inclusion explain about 50% of the flows (chart 2). many other factors，such as policy and geopolitical risk，which are hard to quantify，are also behind the ebb and flow of portfolio investments.
本文是付费内容，请先 登录数字阅读账户 或
