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Auteur : Gabriele Di Filippo
The paper analyses gross investment flows in equity and investment fund shares (EIFS) in Luxembourg - a small open economy with a financial center - over the period 2002Q1-2016Q3. Gross flows cover gross inflows and gross outflows.
Gross inflows are defined as the net purchases of domestic assets by foreign (i.e. non-resident) investors (IMF (2009)). If a majority of non-resident investors buy (sell) domestic assets, then gross inflows are positive (negative). Gross outflows are defined as the net purchases of foreign assets by domestic (i.e. resident) investors (IMF (2009)). If a majority of resident investors buy (sell) foreign assets, then gross outflows are positive (negative).
The paper...
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