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Published Papers

Information and Capital Flows: The Determinants of Transactions in Financial Assets
Portes R., Rey H. Oh Y.
Date Published: 2001
Portes, Richard, Hélène Rey, and Yonghyup Oh. "Information and capital flows: The determinants of transactions in financial assets." European Economic Review 45.4 (2001): 783-796.

Abstract:
We show that a gravity model explains international transactions in financial assets at least as well as goods trade transactions. Information asymmetries are key to determine the geographical pattern of asset trade. And corporate, government bonds and equities all have different information content.
Citation:
Portes, Richard, Hélène Rey, and Yonghyup Oh. "Information and capital flows: The determinants of transactions in financial assets." European Economic Review 45.4 (2001): 783-796. Reprinted in Edward Elgar: 'The International Library of Critical Writings in Economics', International Financial Integration , S. Eijffinger and J. Lemmen eds.
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