International Portfolio Flows and Search Frictions

  title={International Portfolio Flows and Search Frictions},
  author={Ernesto Revilla},
Recent empirical research on international portfolio flows has produced a set of stylized facts that any serious theory should try to replicate. Among these, Kraay [2000] and Lane and Milesi-Ferreti [2001] present common facts about international flows. In this paper we suggest a search theoretic approach for studying these facts. Recent evidence, such as Portes and Rey [1999] has shown that there is a strong informational component in the flows of capital among countries. In this paper we… CONTINUE READING

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