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Bond Yields in Emerging Economies : : It Matters What State You Are In / / Laura Jaramillo, Anke Weber



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Autore: Jaramillo Laura Visualizza persona
Titolo: Bond Yields in Emerging Economies : : It Matters What State You Are In / / Laura Jaramillo, Anke Weber Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
Edizione: 1st ed.
Descrizione fisica: 1 online resource (26 p.)
Disciplina: 332.1/52
Soggetto topico: Bonds
Investments - Developing countries
Finance: General
Investments: Bonds
Public Finance
Financial Markets and the Macroeconomy
Fiscal Policy
International Financial Markets
Debt
Debt Management
Sovereign Debt
General Financial Markets: General (includes Measurement and Data)
Investment & securities
Public finance & taxation
Finance
Bond yields
Government debt management
Emerging and frontier financial markets
Public debt
Securities markets
Financial institutions
Public financial management (PFM)
Financial markets
Debts, Public
Financial services industry
Capital market
Soggetto geografico: United States
Altri autori: WeberAnke  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Cover; Abstract; Contents; I. Introduction; II. Background and Literature Review; III. Stylized Facts; Figures; 1. Emerging Economies: Government Debt; 2. Emerging Economies: Domestic Government Debt Securities; 3. Emerging Market Fund Assets; 4. Sovereign Domestic Bond Yields; 5. Sovereign Domestic Bond Yields and Global Factors; 6. Domestic Bond Yields and Fiscal Fundamentals, 2007-2011; IV. Empirical Model Specification; V. Data and Estimation Results; A. Data Sources; B. Estimation Results; Tables; 1. Descriptive Statistics
2. Determinants of 10-year Domestic Bond Yields in Emerging Economies3. Threshold Model: Determinants of 10-year Domestic Bond Yields in Emerging Economies; VI. Summary and Conclusions; 7. Actual Change in Bond Yields Compared to Out-of-Sample Prediction; Appendix; References
Sommario/riassunto: While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing relevance. This paper finds that the extent to which fiscal variables affect domestic bond yields in emerging economies depends on the level of global risk aversion. During tranquil times in global markets, fiscal variables do not seem to be a significant determinant of domestic bond yields in emerging economies. However, when market participants are on edge, they pay greater attention to country-specific fiscal fundamentals, revealing greater alertness about default risk.
Titolo autorizzato: Bond Yields in Emerging Economies  Visualizza cluster
ISBN: 1-4755-1103-5
1-4755-3136-2
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910811406703321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2012/198