000	02239nam  2200325za 4500
001	9.863220
003	CaOODSP
005	20221107161225
007	cr |||||||||||
008	181015s2018    oncd    ob   f000 0 eng d
040	|aCaOODSP|beng
041	|aeng|bfre
043	|an-cn---
086	1 |aFB3-6/2018-11E-PDF
100	1 |aCunningham, Rose.
245	14|aThe size and destination of China's portfolio outflows |h[electronic resource] / |cby Rose Cunningham, Eden Hatzvi and Kun Mo.
260	|a[Ottawa] : |bBank of Canada, |c2018.
300	|aiv, 32 p. : |bcharts (mostly col.)
490	1 |aBank of Canada staff discussion paper, |x1914-0568 ; |v2018-11
500	|a"October 2018."
504	|aIncludes bibliographical references (p. 20-21).
520	3 |a"The size of China's financial system raises the possibility that the liberalization of its capital account could have a large effect on the global financial system. This paper provides a counterfactual scenario analysis that estimates what size and direction of China's overseas portfolio investments would have been in 2015 if China had had no restrictions on these outflows. In such a scenario, China's holdings of overseas portfolio assets would have been between US$1.5 trillion and US$3.2 trillion (13 to 29 per cent of Chinese GDP), or 5 to 12 times its actual holdings of US$281 billion. Our model estimates that these additional holdings would have been predominantly directed to the world's deepest financial markets, especially the United States, while emerging-market economies would have received little additional portfolio investment. These results suggest that the liberalization of Chinese portfolio outflows may not prove disruptive to the global financial system, although it could have important implications for China."--Abstract, p. iv.
546	|aIncludes abstract in French.
693	4|aMonetary policy
693	4|aForeign payments
700	1 |aHatzvi, Eden.
700	1 |aMo, Kun.
710	2 |aBank of Canada.
830	#0|aStaff discussion paper (Bank of Canada)|x1914-0568 ; |v2018-11.|w(CaOODSP)9.806273
856	40|qPDF|s738 KB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-6-2018-11-eng.pdf