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    The Impact of Residents’ Overseas Investment on Domestic Swap Rate and Local Exchange Rate

    Kang, Tae Soo; Jeong, Young Sik; Kim, Kyunghun; Kang, Eunjung | May 2020
    Abstract
    Korean residents’ overseas portfolio investment has increased sharply since the year of 2011. Overseas portfolio investment has increased from $100 billion in 2000 to $498 billion (equity securities $294 billion, debt securities $204 billion) in March 2019. The trend is expected to continue due to macroeconomic conditions (low interest rates, expansion of savings over retirement), government policies (activation and deregulation related to overseas investment), and institutional changes (introduction of IFRS in the insurance industry). The trend will have influences on the Korean financial market through various channels. In particular, it is likely to affect the FX market, FX swap market and the external macro-prudential status (short term external debt). Thus it is necessary to analyze the effects and prepare for risks in advance. This study is aimed at presenting policy implications for stabilizing the FX market and FX swap market through empirical studies.
    Citation
    Kang, Tae Soo; Jeong, Young Sik; Kim, Kyunghun; Kang, Eunjung. 2020. The Impact of Residents’ Overseas Investment on Domestic Swap Rate and Local Exchange Rate. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/12152.
    ISSN
    2233-9140
    Keywords
    Public Financial Management
    Financial System
    Financial Statistics
    Financial Stability
    Financial Management System
    Financial Restructuring
    Capital Market Development
    Market Development
    Economics
    Erosion
    International Economics
    Macroeconomic
    Macroeconomic Analysis
    Performance Evaluation
    Impact Evaluation
    Foreign and Domestic Financing
    Foreign Direct Investment
    Financial Statements
    Pension Funds
    Mutual Funds
    Social Equity
    Financial Aspects
    Fiscal Policy
    International Financial Market
    Multilateral Financial Institutions
    Economic Recession
    Market
    Crisis
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Business Financing
    Investment Requirements
    Digital currency
    Labor policy
    Manpower policy
    Business recessions
    Multilateral development banks
    Regulatory reform
    Capital
    Exports
    Economic development projects
    Economic policy
    Economic forecasting
    Investment Requirements
    Banks
    International banks and banking
    Capital movements
    Central banks and banking
    Bills of exchange
    Swaps
    Banks and banking
    Financial crisis
    Credit control
    Credit allocation
    Capital market
    International liquidity
    Liquidity
    Exchange rate
    Pension plans
    Individual retirement accounts
    Employee pension trusts
    Investment management
    Investments
    Multiemployer pension plans
    Keogh plans
    Individual retirement accounts
    Pension plans
    Employee pension trusts
    Pension trusts
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/12152
    Metadata
    Show full item record
    Thumbnail
    WEB20-15.pdf (944.3Kb)
    Author
    Kang, Tae Soo
    Jeong, Young Sik
    Kim, Kyunghun
    Kang, Eunjung
    Theme
    Finance
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise