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| Tekijä: | Brooks, R. (et al.) |
| Otsikko: | Exchange rates and capital flows |
| Lehti: | European Financial Management
2004 : SEP, VOL. 10:3, p. 511-533 |
| Asiasana: | Capital flows Dollars Exchange rates Euro |
| Vapaa asiasana: | Yen |
| Kieli: | eng |
| Tiivistelmä: | The ability of portfolio and foreign direct investment flows to track movements in the euro and the yen against the dollar is explored. Net portfolio flows from the euro area into US stocks - possibly reflecting differences in expected productivity growth - track movements in the euro against the dollar closely. Net FDI flows, which capture the recent burst in cross-border M&A activity, appear less important in tracking movements in the euro-dollar rate, possibly because many M&A transactions consist of share swaps. |
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