debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset …-term bond yields. Instead, we find that larger spillovers stem more from structural factors, such as the use of new instruments …

acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap …

held back by a sharp fall in investment rates, which has left firms with little need for bond borrowing. Even so, markets … have developed in other ways, to such an extent that substantial amounts of foreign portfolio investment have begun to flow … investment likely to rise, ASEAN5 bond markets could expand rapidly over the next decade, holding out the prospect that the …

domestic investment, banking sector development, private capital flows, and stock market liquidity are important determinants …

the world, (ii) invest in foreign assets, and (iii) receive foreign direct investment (FDI). The model is calibrated on 32 …