Global Spillovers into Domestic Bond Markets in Emerging Market Economies

WPIEA2013264 Image
Price:  $18.00

Author/Editor: Laura Jaramillo, Anke Weber
Release Date: © December, 2013
ISBN : 978-1-48432-844-6
Stock #: WPIEA2013264
Stock Status: On back-order

Languages and formats available



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.


Bond markets , Capital markets , Economic policy , Financial institutions and markets , Fiscal policy

More publications in this series: Working Papers

More publications by: Laura Jaramillo ; Anke Weber