Title

The Behavior of Closed-end Country Fund Prices in the Asian NIEs

Document Type

Article

Language

eng

Format of Original

4 p.

Publication Date

12-1994

Publisher

Taylor & Francis (Routledge)

Source Publication

Applied Economics Letters

Source ISSN

1350-4851

Abstract

This paper tests the impact of international investment restrictions on closed-end country funds in four Asian countries - Hong Kong, Korea, Singapore and Taiwan. The results show that the relationship between the premiums or discounts on closed-end country funds and announcements of changes in investment restrictions is sensitive to how individual countries respond to foreign innovations. A strong relationship exists in countries with large restrictions on investment - Korea and Taiwan. However, the relationship seems to break down in countries where there are virtually no restrictions on investment - Hong Kong and Singapore.

Comments

Applied Economics Letters, Vol. 1, No. 12 (December 1994): 219-222. DOI.

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