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Impact Of Financial Market Development On Holdings Of Us Assets And Equity Carve-Outs And Macroeconomic Activity, Ravigsida Dorcas Compaore
Impact Of Financial Market Development On Holdings Of Us Assets And Equity Carve-Outs And Macroeconomic Activity, Ravigsida Dorcas Compaore
University of New Orleans Theses and Dissertations
The first part of this dissertation examines the impact of financial development on different countries holdings of U.S securities. The difference between the US weight in the global market capitalization and the US weight in developed and developing countries is tested through a panel data analysis. We find that most countries tend to overweight their US debt portfolio which is strongly related to their financial market development. When holdings of US debts and equity are low, financial market development is high; in developing countries, holding less US equity in their portfolio causes country to get better financial development. In developed …