文章基本信息

标题：Asset managers in emerging market economies
本地全文：下载
作者：Ken Miyajima ; Ilhyock Shim
期刊名称：BIS Quarterly Review: International Banking and Financial Market Developments = BIZ-Quartalsbericht: Internationales Bankgeschäft und internationale Finanzmärkte
印刷版ISSN：1012-9979
出版年度：2014
卷号：2014
语种：English
出版社：Bank for International Settlements
摘要：The turbulence in emerging market economies (EMEs) in mid-2013 has reminded policymakers and investors of the importance of actions by large asset managers for relatively small and illiquid EME asset markets. The presence of asset managers in EMEs has grown considerably, and the concentrated use of benchmarks and the directional co-movement of investor flows can generate correlated investment patterns that may create one-sided markets and exacerbate price fluctuations. Indeed, we provide evidence showing that, during the past two years, investor flows to asset managers and EME asset prices have reinforced each other's movements.