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Author/Editor:
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Swiston, Andrew
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Publication Date:
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September 01, 2005
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Electronic Access:
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Free Full text
(PDF file size is 483KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper analyzes various indicators of the U.S. international investment position from a portfolio perspective. The 1990s saw a decline in home bias, which, coupled with rapid financial deepening, led to a large increase in gross international investment holdings. The home bias of non-U.S. investors declined more rapidly than that of U.S. investors, allowing the United States to finance a rising stock of net liabilities, even as foreign portfolios remained marketweight or underweight U.S. assets in each investment category. However, a comparison to other countries reveals that the U.S. net international investment position (NIIP) is large given the size of the economy and is deteriorating, especially through a growing negative net debt securities position.
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Order a print copy
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Series:
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Working Paper No. 05/181
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Subject(s):
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Foreign investment | United States | External debt
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Author's Keyword(s):
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International investment position | home bias | foreign investment |
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English
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Publication Date:
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September 01, 2005
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA2005181
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Pages:
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24
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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