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Global Spillovers into Domestic Bond Markets in Emerging Market Economies [electronic resource] Jaramillo, Laura..

Author/Creator:
Jaramillo, Laura.
Publication:
Washington, D.C. : International Monetary Fund, 2013.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 13/264.
IMF Working Papers; Working Paper No. 13/264.
Format/Description:
Government document
Book
1 online resource (21 p.)
Local subjects:
Bond Markets.
Bond markets.
Debt.
Debt Management.
Emerging Market Economies.
Emerging markets.
Financial Markets.
Financial Markets and the Macroeconomy.
Fiscal Deficit.
Fiscal Policy.
Global Spillovers.
International Financial Markets.
Public Debt.
Public debt.
Public Expenditures, Investment, and Finance.
Saving and Capital Investment.
Spillovers.
Taxation.
Brazil.
Bulgaria.
Chile.
China, People's Republic of.
Colombia.
Estonia.
Hungary.
India.
Latvia.
Lithuania.
Malaysia.
Mexico.
Pakistan.
Peru.
Philippines.
Poland.
Romania.
Russian Federation.
South Africa.
Sri Lanka.
Thailand.
Turkey.
Ukraine.
Venezuela, República Bolivariana de.
Vietnam.
Summary:
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 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.
Notes:
Description based on print version record.
Contributor:
Jaramillo, Laura.
Weber, Anke.
Other format:
Print Version:
ISBN:
1484328442:
9781484328446
ISSN:
1018-5941
Publisher Number:
10.5089/9781484328446.001
Access Restriction:
Restricted for use by site license.
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