Hedge Funds and Financial Market Dynamics

Occasional Paper Series, No. 166, International Monetary Fund, Washington D.C.

Posted: 23 Sep 2009 Last revised: 11 Nov 2011

See all articles by Barry Eichengreen

Barry Eichengreen

University of California, Berkeley; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Donald J. Mathieson

International Monetary Fund (IMF)

Sunil Sharma

George Washington University - Elliott School of International Affairs

Date Written: May 1998

Abstract

Hedge funds are collective investment vehicles, often organized as private partnerships and resident offshore for tax and regulatory purposes. Their legal status places few restrictions on their portfolios and transactions, leaving their managers free to use short sales, derivative securities, and leverage to raise returns and cushion risk. This paper considers the role of hedge funds in financial market dynamics, with particular reference to the Asian crisis.

Suggested Citation

Eichengreen, Barry and Mathieson, Donald J. and Sharma, Sunil, Hedge Funds and Financial Market Dynamics (May 1998). Occasional Paper Series, No. 166, International Monetary Fund, Washington D.C., Available at SSRN: https://ssrn.com/abstract=1474538

Barry Eichengreen

University of California, Berkeley ( email )

310 Barrows Hall
Berkeley, CA 94720
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Donald J. Mathieson

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Sunil Sharma (Contact Author)

George Washington University - Elliott School of International Affairs ( email )

Institute for International Economic Policy
1957 E Street NW
Washington, DC 20052
United States

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