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150128 ||| eng |
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|a 9781451860054
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|a Gelos, Gaston
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| 245 |
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|a A Panic-Prone Pack? the Behavior of Emerging Market Mutual Funds
|c Gaston Gelos, Eduardo Borensztein
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2000
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| 300 |
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|a 36 pages
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| 651 |
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4 |
|a Russian Federation
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Stock exchanges
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| 653 |
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|a Stocks
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| 653 |
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|a Pension Funds
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| 653 |
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|a Finance
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Financial institutions
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| 653 |
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|a Financial Instruments
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Exports and Imports
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a International economics
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| 653 |
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|a International Financial Markets
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Capital flows
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| 653 |
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|a Financial markets
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| 653 |
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|a Emerging and frontier financial markets
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| 653 |
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|a Stock markets
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| 653 |
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|a Investments: Stocks
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| 653 |
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|a Financial services industry
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| 653 |
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|a Capital movements
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| 653 |
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|a Investment & securities
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| 653 |
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|a Mutual funds
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| 653 |
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|a Finance: General
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Borensztein, Eduardo
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451860054.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2000/198/001.2000.issue-198-en.xml?cid=3909-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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| 520 |
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|a This paper explores the behavior of emerging market mutual funds using a novel database covering the holdings of individual funds over the period January 1996 to March 1999. An examination of individual crises shows that, on average, funds withdrew money one month prior to the events. The degree of herding among funds is statistically significant, but moderate. Herding is more widespread among open-ended funds than among closed-end funds, but not more prevalent during crises than during tranquil times. Funds tend to follow momentum strategies, selling past losers and buying past winners, but their overall behavior is more complex than often suggested
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