Penelitian ini bertujuan melakukan analisis pengaruh likuiditas terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012. Likuiditas diukur menggunakan Price Impact, Trading Volume, Turnover Ratio, dan Corwin Schultz Spread. Penelitian menggunakan data panel serta metode regresi Fixed dan Random Effect Model. Selain itu, penelitian juga bertujuan untuk menganalisis hubungan variabel bilateral dan makroekonomi terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012. Penelitian menemukan bahwa likuiditas memiliki pengaruh positif terhadap alokasi portofolio asing di negara BRICS dan MIST periode 2002-2012.

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The aim of this research is to analyze the impact of liquidity on Foreign Portofolio Allocation in BRICS and MIST Countries during 2002-2012. Liquidity are measured using Price Impact, Trading Volume, Turnover Ratio, and Corwin Schultz Spread. This research uses panel data with Fixed and Random Effect Model as a regression method. Furthermore, this research also analyze the effect of bilateral and macroeconomic condition on Foreign Portfolio Allocation. This research found that market liquidity positively affects Foreign Portfolio Invesments in BRICS and MIST Countries during 2002-2012.