The report aims to establish an understanding of the degree and structure of portfolio investment and bank loans among APEC economies.

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1. INTRODUCTION

2. SIZE OF BILATERAL HOLDINGS OF PORTFOLIO ASSETS

3. LONG-TERM BOND HOLDINGS

4. BANK LENDING

5. THEORETICAL FRAMEWORK AND EMPIRICAL MODELS

6. EMPIRICAL RESULTS

7. RESULTS FROM EXTENDED MODEL

8. POLICY IMPLICATIONS

9. REFERENCES LIST