Global Spillovers Into Domestic Bond Markets in Emerging Market Economies Laura Jaramillo

ISBN: 9781484329153

Published: December 23rd 2013

ebook

21 pages


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Global Spillovers Into Domestic Bond Markets in Emerging Market Economies  by  Laura Jaramillo

Global Spillovers Into Domestic Bond Markets in Emerging Market Economies by Laura Jaramillo
December 23rd 2013 | ebook | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 21 pages | ISBN: 9781484329153 | 9.75 Mb

While fiscal conditions remain healthier than in advanced economies, emerging economies continue to be exposed to negative spillovers if global conditions were to become less favorable. This paper finds that domestic bond yields in emerging economiesMoreWhile fiscal conditions remain healthier than in advanced economies, emerging economies continue to be exposed to negative spillovers if global conditions were to become less favorable. This paper finds that domestic bond yields in emerging economies are heavily influenced by two international factors: global risk appetite and global liquidity.

Using a novel approach, the analysis goes on to show that the vulnerability of emerging economies to these factors is not uniform but rather depends on country specific characteristics, namely fiscal fundamentals, financial sector openness and the external current account balance.



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