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IS-BILAT-Mobilitet Norge-USA /Canada

International portfolio allocation

Tildelt: kr 0,18 mill.

Trying to explain the current turmoil in the international financial markets many academics and economic commentators have emphasized that there exists imbalances in the global economy. These imbalances are present in trade with real goods between countri es and also in the financial markets. Norway is one of the world's largest oil exporters. The proceeds from these exports are invested internationally in one of the world's largest sovereign wealth funds. Norway is thus potentially a contributor to (and i s certainly exposed to) these international imbalances. Because of the actuality of capital streams across borders and Norway's position as a big net holder of foreign assets, I would like to commence in-depth studies on international portfolio theory and how or if this theory should differ between individual investors and whole nations. This research will be a continuation or extension of former work performed by, among others, Døskeland (2007) and Dewenter (2010). I would also like to look into how the general portfolio allocations of net exporters differ from net importers and possibly connect this to one of the puzzles in financial economics called the "home bias puzzle."


IS-BILAT-Mobilitet Norge-USA /Canada