Ciarlone, Alessio; Piselli, Paolo; Trebeschi, Giorgio - In: Journal of International Financial Markets, … 19 (2009) 2, pp. 222-239
In this article, we analyze how much of the reduction in emerging markets' spreads can be ascribed to specific factors--linked to the improvement in a given country's fundamentals, rather than to common factors--linked to global liquidity conditions and agents' risk aversion. By means of factor...