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A Borderless World Of Hypermobile And Homeless Capital? An Evaluation Of Financial Flows In The Mutual Fund Industry, Colin C. Williams
A Borderless World Of Hypermobile And Homeless Capital? An Evaluation Of Financial Flows In The Mutual Fund Industry, Colin C. Williams
Colin C Williams
The aim of this paper is to evaluate critically the hyperglobalist thesis that with the emergence of fund-manager capitalism, hypermobile and homeless capital increasingly roams a borderless world in search of investment opportunities. Drawing upon Standard and Poor’s Micropal data base to analyze financial flows in the mutual fund industries of nine developed market economies, evidence is found of some globally orientated funds as well as more rapid-fire trading, faster fund switching and the disembedding of capital ownership from place and individuals. However, little evidence is found that the apogee of financial globalization - a seamless world of hypermobile and …
An Evaluation Of Financial Globalisation Under Fund-Manager Capitalism: The Case Of The Uk Unit Trust Industry', Colin C. Williams
An Evaluation Of Financial Globalisation Under Fund-Manager Capitalism: The Case Of The Uk Unit Trust Industry', Colin C. Williams
Colin C Williams
Drawing upon evidence from the UK unit trust industry, this paper evaluates the extent and nature of financial globalisation. It finds that despite this rapidly growing and prominent form of fund-manager capitalism operating with increasingly mobile capital in a more inter-connected de-regulated world, this does not signal the advent of homeless capital and the end of geography.