bonds. We document a 'history effect' in which the pattern of holdings seven decades ago continues to influence holdings … other than the dollar. Our findings point to history and path dependence as key sources of financial market segmentation …

document a "history effect" in which the pattern of holdings seven decades ago continues to influence holdings today. 10 to 15 … investment in such currencies. Our findings point to history and path dependence as key sources of financial market segmentation …

document a "history effect" in which the pattern of holdings seven decades ago continues to influence holdings today. 10 to 15 … investment in such currencies. Our findings point to history and path dependence as key sources of financial market segmentation …

“history effect” in which holdings seven decades ago continue to influence holdings today. 10–15% of the cross …. Our findings point to history and path dependence as key sources of financial market segmentation. …