HCBE Faculty Articles
Threats to Foreign Equity Investments in International Capital Markets: Nationalism and Militarism
Document Type
Article
Publication Title
Review of Pacific Basin Financial Markets and Policies
ISSN
0219-0915
Publication Date
2013
Abstract/Excerpt
Even though financial markets have become more integrated and international capital now moves more freely across borders, we argue that access to foreign equity investments still remains a political decision, and this policy decision is a function of the country's nationalistic and militaristic sentiments. We use military spending as a proxy for militarism and nationalism, and show that countries with high militaristic sentiments have lower foreign equity investments. We also look at bilateral equity flows and find that a pair of countries simultaneously having greater increases in militarism has lower bilateral equity investments.
DOI
10.1142/S0219091513500185
Volume
16
Issue
3
First Page
1
Last Page
16
NSUWorks Citation
Kuvvet, Emre, "Threats to Foreign Equity Investments in International Capital Markets: Nationalism and Militarism" (2013). HCBE Faculty Articles. 762.
https://nsuworks.nova.edu/hcbe_facarticles/762
