Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets

Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets
Author: Mr.Amine Mati
Publisher: International Monetary Fund
Total Pages: 25
Release: 2008-11-01
Genre: Business & Economics
ISBN: 1451871171


Download Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets Book in PDF, Epub and Kindle

Using a panel of 30 emerging market economies from 1997 to 2007, this paper investigates the determinants of country risk premiums as measured by sovereign bond spreads. Unlike previous studies, the results indicate that both fiscal and political factors matter for credit risk in emerging markets. Lower levels of political risk are associated with tighter spreads, while efforts at fiscal consolidation narrow credit spreads, especially in countries that experienced prior defaults. The composition of fiscal policy matters: spending on public investment contributes to lower spreads as long as the fiscal position remains sustainable and the fiscal deficit does not worsen.


Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets
Language: en
Pages: 25
Authors: Mr.Amine Mati
Categories: Business & Economics
Type: BOOK - Published: 2008-11-01 - Publisher: International Monetary Fund

GET EBOOK

Using a panel of 30 emerging market economies from 1997 to 2007, this paper investigates the determinants of country risk premiums as measured by sovereign bond
IMF Working Papers
Language: en
Pages:
Authors: Amine Mati
Categories: Electronic books
Type: BOOK - Published: 2008 - Publisher:

GET EBOOK

Determinants of Emerging Market Sovereign Bond Spreads
Language: en
Pages: 28
Authors: Iva Petrova
Categories: Business & Economics
Type: BOOK - Published: 2010-12-01 - Publisher: International Monetary Fund

GET EBOOK

This paper analyses the determimants of emerging market sovereign bond spreads by examining the short and long-run effects of fundamental (macroeconomic) and te
Determinants of Sovereign Bond Spreads in Emerging Markets
Language: en
Pages: 42
Authors: Mr.Balazs Csonto
Categories: Business & Economics
Type: BOOK - Published: 2013-07-10 - Publisher: International Monetary Fund

GET EBOOK

We analyze the relationship between global and country-specific factors and emerging market debt spreads from three different angles. First, we aim to disentang
Determinants of Emerging Market Sovereign Bond Spreads
Language: en
Pages: 27
Authors: Iva Petrova
Categories: Business & Economics
Type: BOOK - Published: 2010-12-01 - Publisher: International Monetary Fund

GET EBOOK

This paper analyses the determimants of emerging market sovereign bond spreads by examining the short and long-run effects of fundamental (macroeconomic) and te