significantly affect cross-border capital flows and thus destabilize the financial systems of emerging markets. For example …, emerging markets experienced substantial financial instability during the taper tantrum triggered by the US Federal Reserve … the taper tantrum on emerging markets more rigorously by using econometric analysis to empirically assess the effect on …

It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries …

in United States (US) financial markets - equities, bonds, and bank lending - changed after the crisis. Our econometric … markets largely due to excessive savings and foreign exchange reserves. …

designing policies to bolster development of LCY bond markets …