This paper empirically investigates if there have been any shift in regime with Asian holdings of long-term United States (US) Treasury securities, with particular attention paid to the role of growing regional integration in trade. A panel regression estimation of eight Asian countries for...

We model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive,...