Global Financial Spillovers To Emerging Market Sovereign Bond Markets
Download and Read Global Financial Spillovers To Emerging Market Sovereign Bond Markets full books in PDF, ePUB, and Kindle. Read online free Global Financial Spillovers To Emerging Market Sovereign Bond Markets ebook anywhere anytime directly on your device. We cannot guarantee that every ebooks is available!
Global Financial Spillovers to Emerging Market Sovereign Bond Markets
Author | : Mr.Christian Ebeke |
Publisher | : International Monetary Fund |
Total Pages | : 22 |
Release | : 2015-06-26 |
Genre | : Business & Economics |
ISBN | : 1513552759 |
Download Global Financial Spillovers to Emerging Market Sovereign Bond Markets Book in PDF, Epub and Kindle
Foreign holdings of emerging markets (EMs) government bonds have increased substantially over the last decade. While foreign participation in local-currency sovereign bond markets provides an additional source of financing and reduces sovereign yields, it raises concerns about increased sensitivity of yields to shifts in market sentiment. The analysis in this paper suggests that foreign participation and an undiversified investor base transmit global financial shocks to local-currency sovereign bond markets by increasing yield volatility and, beyond a certain threshold, amplify these spillovers. These estimates are robust to a range of econometric techniques including panel smooth threshold regression.
Global Financial Spillovers to Emerging Market Sovereign Bond Markets Related Books
Pages: 22
Pages: 56
Pages: 22
Pages: 12
Pages: 828