Portfolio Investment: Analysis of 1997 Coordinated Portfolio Investment Survey (CPIS) Results and Plans for 2001 Survey

The Analysis of 1997 Coordinated Portfolio Investment Survey Results and Plans for the 2001 Survey (Analysis and Plans) publication presents an assessment of the 1997 survey data and a summary of improvements that have been introduced into national systems for collecting data on international portfolio investment as a result of countries' participation in the 1997 CPIS survey.

Section II of the document provides a long-term perspective on portfolio investment and deals with developments in international financial markets, discrepancies in the world financial account, the findings of the Working Party on the Measurement of International Capital Flows (as set out in the so-called Godeaux Report), and the treatment of portfolio investment in the fifth edition of the IMF's Balance of Payments Manual.

Section III of Analysis and Plans provides an analysis of the 1997 CPIS results. The section covers issues such as: (i) the objectives set for the 1997 survey, (ii) the scope of the 1997 survey results, (iii) the augmentation of the 1997 CPIS data, (iv) the estimation of portfolio investment positions, (v) bilateral comparisons of data on portfolio assets and liabilities, and (vi) the benefits of the 1997 CPIS.

Section IV of the document addresses important post-Godeaux Report developments, namely: (i) vulnerability analysis, (ii) the treatment of financial derivatives, (iii) developments in methodology for external debt statistics, and (iv) the Special Data Dissemination Standard (SDDS).

The final section of Analysis and Plans deals with plans for future CPIS surveys, and covers issues related to: (i) increasing the participation in the surveys, (ii) securing the participation of offshore financial centers, (iii) the coverage of the survey, (iv) databases for information on securities, and (v) the case for an annual CPIS survey.

Appendices to the document deal with (i) the geographic classification of portfolio investment holdings, and (ii) balance of payments and international investment position data available in the IMF database.

Copies of the Analysis of 1997 Coordinated Portfolio Investment Survey Results and Plans for the 2001 Survey (Analysis and Plans) are available from IMF Publications in English, for a fee.

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See also the side-bars to this page, as well as the webpage on Balance of Payments Selected Publications for additional information on the 1997 CPIS survey and the 2001 CPIS survey, and related portfolio investment issues.