Diversification vs. Offshoring (Ceballos et al.)

Financial globalization in emerging countries: diversification vs. offshoring by Francisco Ceballos, Tatiana Didier and Sergio L. Schmukler. “The authors find that globalization via the diversification channel expanded throughout the world during the 2000s, as domestic residents invested more abroad and foreigners increased their investments at home, generating more cross-border holding. However, financial globalization via offshoring displays more mixed patterns, with variations across markets and countries.”