Showing 1 - 9 of 9
We analyze the sovereign bond issuance data of eight major emerging markets (EMs) - Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey from 1970 to 2018. Our analysis suggests that (i) EM local currency bonds tend to be smaller in size, shorter in maturity, or lower in...
Persistent link: https://www.econbiz.de/10012481987
The pronounced and persistent impact of the global financial crisis of 2008 motivates our empirical analysis of the role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that the associations of growth level, growth volatility,...
Persistent link: https://www.econbiz.de/10012455214
, and lower trade openness were associated with a higher fiscal stimulus/GDP during 2009-2010. Joint estimation indicates …
Persistent link: https://www.econbiz.de/10012462118
Developing Asia experienced a sharp surge in foreign currency reserves prior to the 2008-9 crisis. The global crisis has been associated with an unprecedented rise of swap agreements between central banks of larger economies and their counterparts in smaller economies. We explore whether such...
Persistent link: https://www.econbiz.de/10012462846
We explore the stability of the conditioning variables accounting for the real estate valuation before and after the crisis of 2008-9, in a panel of 36 countries, recognizing the crisis break. We validate the robustness of the association between the real estate valuation and lagged current...
Persistent link: https://www.econbiz.de/10012459473
countries to global crisis news and euro crisis news. Overall, we find that whereas global crisis news had a consistently … negative effect on returns of equity and bond markets in developing countries, the effect of euro crisis news was more mixed …
Persistent link: https://www.econbiz.de/10012460631
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...
Persistent link: https://www.econbiz.de/10012461155
.94) down to the average level of the Euro minus the Euro-area peripheral countries (1.97), was associated with a larger crisis … stimulus in 2009-11 of 2.78 GDP percentage points. Joint estimation of fiscal stimuli and exchange rate depreciations indicates …
Persistent link: https://www.econbiz.de/10012461231
We estimate the pricing of sovereign risk for sixty countries based on fiscal space (debt/tax; deficits/tax) and other economic fundamentals over 2005-10. We measure how accurately the model predicts sovereign credit default swap (CDS) spreads, focusing in particular on the five countries in the...
Persistent link: https://www.econbiz.de/10012461251