Where do Australians invest?

Article


Mishra, Anil and Daly, Kevin. 2006. "Where do Australians invest?" The Australian Economic Review. 39 (1), pp. 47-59. https://doi.org/10.1111/j.1467-8462.2006.00395.x
Article Title

Where do Australians invest?

ERA Journal ID18190
Article CategoryArticle
AuthorsMishra, Anil (Author) and Daly, Kevin (Author)
Journal TitleThe Australian Economic Review
Journal Citation39 (1), pp. 47-59
Number of Pages13
Year2006
Place of PublicationAustralia
ISSN0004-9018
1467-8462
Digital Object Identifier (DOI)https://doi.org/10.1111/j.1467-8462.2006.00395.x
Web Address (URL)http://www.blackwell-synergy.com/doi/pdf/10.1111/j.1467-8462.2006.00395.x
Abstract

In this article, we analyse the geography of Australia’s international portfolio investment using the International Monetary Fund’s Coordinated Portfolio Investment Survey dataset. Preliminary results suggest that Australia’s external holdings of equity and debt as a percentage of national income almost doubled between 1997 and 2001. However, Australia’s international investment position as a percentage of national income is one of the lowest amongst the major OECD countries. In 2001 approximately two-thirds of Australia’s total investments were in the United States and the United Kingdom. By contrast Australia’s trade share (exports plus imports as a percentage of Australia’s total world trade) with these countries was approximately 20 per cent in the same year. The major determinants of Australia’s
geographical allocation of portfolio investment indicate a broad correspondence between stock market capitalisation of destination countries and the allocation of Australian financial investments but with some deviations from that baseline, where the deviations are correlated with Australian trade patterns.

Keywordscoordinated portfolio investment survey; accounting; standards; invest; investment; investments; Australia; banks; finance; portfolio
ANZSRC Field of Research 2020350208. Investment and risk management
380110. International economics
380107. Financial economics
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Byline AffiliationsUniversity of Western Sydney
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