To what extent and in what ways does mobile capital affect the policy decisions of national governments, and under what conditions are governments willing to privilege (or to ignore) the preferences of asset holders who can credibly threaten exit? There is a long tradition of analyses based on...

This paper focuses on emerging markets government bonds issued in local currency with different maturities. Foreign investors face interest rate, currency, and credit risks. We consider the entire term structure of carry trade returns and find that, while the default premium does not contribute...

The paper contributes to the growing global VAR (GVAR) literature by showing how global and national shocks can be identified within a GVAR framework. The usefulness of the proposed approach is illustrated in an application to the analysis of the interactions between public debt and real output...

This book explores and analyzes governance and policy issues in South, Southeast, and East Asia. It maps governance challenges and analyzes current trends from the perspectives of democracy, public policy, and public institutions. Regional public administration and governance systems have...

In this study global and national variables that affect the sovereign Credit Default Swaps (CDS) spreads for Turkey are examined. The study utilities monthly time-series data, spanning from August of 2009 to September 2018. Empirical analysis is done in two steps: In the first step, the...