The geography of trade in goods and asset holdings

By Antonin Aviat, Nicolas Coeurdacier. 2007

378 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/a28f2d2a14b27c127198935331975bb9cc3eb68c

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Citations in the corpus

Gravity and culture in foreign portfolio investment (2012, methodology): “This result is contrary to Aviat and Coeurdacier (2007) who found it to be insignificant.”
Home bias in open economy financial macroeconomics (2013, neutral): “Since labor income and dividends are a constant share of output ((6) and (7)), relative labor income (ŵtlt) and dividends (d̂t) are equal and given by: ŵtlt = d̂t = q̂t + ŷt.”
What Lies Beneath the Euro's Effect on Financial Integration? Currency Risk, Legal Harmonization, or Trade? (2010, neutral): “…distrust and cultural dissimilarities are significant determinants of cross-border investment (e.g. Portes and Rey (2005), Portes et al. (2001), Aviat and Coeurdacier (2007), Guiso et al. (2009), Ekinci et al. (2008)) and of banking in particular (Buch (2003); Gianneti and Yafeh (2008); Mian…”
Capital controls and optimal Chinese monetary policy (2015, background): “Earlier studies reported values for equity home bias around 0.80 (Aviat and Coeurdacier, 2007).”
International portfolio diversification is better than you think (2011, background): “…both with GDP and stock return correlations (Frankel and Rose, 1998; Imbs, 2004; Baxter and Kouparitsas, 2005; Walti, 2005; Flavin et al., 2001) and with cross-border equity holdings (Portes and Rey, 2005; Chan, Covrig and Ng, 2005; Lane and Milesi-Feretti, 2004; Aviat and Coeurdacier, 2007).”
The geography of asset trade and the euro: insiders and outsiders (2009, methodology): “We use data from Aviat and Coeurdacier (2007) about the international taxation of capital available for a restricted number of countries.22 Indeed, although most of the countries we study have a residence-based tax system, they charge withholding taxes when foreigners repatriate dividends, capital…”
Do trade costs in goods market lead to home bias in equities (2009, neutral): “Using equations (5) and (7) gives: (1− 1 γ )θρ p̂H pF = − (2μ− 1) [ ρ 1− ρ + θ 2 ρ ( 1 γ − 1 1− ρ )] p̂H pF 13Note that this condition is the same as the equality of the Lagrange multipliers in all states of nature.”
Emerging Markets Research: Trends, Issues and Future Directions (2012, neutral): “This is an emerging topic (see inter alia, Aviat and Coeurdacier (2007) on goods and asset trade, Huang (2007) on goods trade, Lucey and Zhang (2010) on equity market correlations, and Aggarwal, Kearney and Lucey (2012) on foreign portfolio investment).”
External Shocks, Internal Shots: The Geography of Civil Conflicts (2012, background): “Although the geographical distribution of international financial linkages is closely related to trade in goods (see, e.g., Aviat & Coeurdacier, 2007), sub-Saharan countries’ financial systems are arguably too small and closed to generate such an effect.”
What Drives International Financial Flows? Politics, Institutions and Other Determinants (2009, background): “Distance might also be capturing part of the effect of trade on capital flows (Aviat and Coeurdacier, 2007).”
The European Union, the Euro, and Equity Market Integration (2010, background): “In addition, Aviat and Coeurdacier (2007) show that trade and financial integration are positively correlated.”