2 edition of What explains changing spreads on emerging-market debt found in the catalog.
What explains changing spreads on emerging-market debt
Barry J. Eichengreen
|Statement||Barry Eichengreen, Ashoka Mody.|
|Series||NBER working paper series -- working paper 6408, Working paper series (National Bureau of Economic Research) -- working paper no. 6408.|
|Contributions||Mody, Ashoka., National Bureau of Economic Research.|
|LC Classifications||HB1 .W654 no. 6408|
|The Physical Object|
|Pagination||45 p. :|
|Number of Pages||45|
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What Explains Changing Spreads on Emerging Market Debt. Barry Eichengreen, Ashoka Mody. Chapter in NBER book Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies (), Sebastian Edwards, editor (p.
- ) Conference held FebruaryPublished in January by University of Chicago Press. What Explains Changing Spreads on Emerging Market Debt. Barry Eichengreen and Ashoka Mody Introduction The number and value of bonds issued by emerging market borrowers grew enormously in the course of the s (table ).
They were a major source of capital for developing countries and had significant implicationsCited by: Barry Eichengreen & Ashoka Mody, "What Explains Changing Spreads on Emerging Market Debt?," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pagesNational Bureau of Economic Research, Inc.
Handle: RePEc:nbr:nberch Downloadable. In this paper we analyze data on nearly 1, developing-country bonds issued in the years the recent episode of heavy reliance on bonded debt.
We analyze both the issue decision of debtors and the pricing decision of investors, minimizing selectivity bias by treating the two issues jointly. Overall, the results confirm that higher credit quality translates into a higher. Additional Physical Format: Online version: Eichengreen, Barry J.
What explains changing spreads on emerging-market debt. Cambridge, MA: National Bureau of Economic Research, © 4. What Explains Changing Spreads on Emerging Market Debt. Barry Eichengreen and Ashoka Mody Comment: Sylvia Maxfield 5. Is There a Curse of Location.
Spatial Determinants of Capital Flows to Emerging Markets Swati Ghosh and Holger Wolf Comment: Miguel A. Savastano 6. Capital Flows and the Behavior of Emerging Market Equity Returns. COVID Resources. Reliable information about the coronavirus (COVID) is available from the World Health Organization (current situation, international travel).Numerous and frequently-updated resource results are available from this ’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus.
McGuire and Schrijvers () find that a single common factor explains approximately 80 percent of the common variation in spreads on emerging market bond debt across countries. This factor seems. This paper presents an empirical analysis related to sovereign bond spreads variations of seven Latin American countries during to The self-organizing maps methodology allows identifying the similarities among the financial markets by: 1.
What explains changing spreads on emerging market debt: fundamentals or market sentiment. (English) This paper analyzes data on nearly one thousand developing country bonds issued duringa period that spans the recent episode of heavy reliance on bonded debt.
Spreads between foreign-currency denominated bonds issued by emerging market economies (EMEs) and equivalent bonds issued by advanced countries have been declining over the last 4 years, reaching the lowest levels since the onset of the Asian banking and financial crisis in Cited by: Eichengreen, B.
& Mody, A. What explains changing spreads on emerging market debt: Fundamentals or market sentiment. NBER Working Paper No. Frankel, J. Why haven’t interest rates in Latin American and Asian countries converged to world levels. Recent portfolio capital inflows and stabilization.
Unpublished manuscript. Here is the list of Top 10 best books on Bond Investing, Bond Markets, and Trading. The infamous Global Financial Crisis of had caused widespread disruptions to every sector of the bond market and had left even the most enthusiastic investor in a spot of bother concerning the safety of their investment.
To serve these investors and anyone. Sincespreads on emerging market sovereign debt have fallen to historical lows. Given the close links between sovereign spreads, capital flows to emerging markets, and economic growth. Eichengreen B. and Mody A. (), “What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?”, National Bureau of Economic Research, Working Paper No Google ScholarCited by: Separating purely economic from political factors in emerging market local currency debt spreads is subjective.
As Jerome Booth, Ashmore Group ’s ex-head of research and an influential commentator on emerging markets, argues in his recent book, Emerging Markets in an Upside Down World, that political risk exists everywhere, including in.
Eichengreen, Barry, and AshokaMody,“What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?”NBER Working Paper No. (Cambridge, Massachussets: National Bureau of Economic Research). Eichengreen, Barry, and AshokaMody,“What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?”NBER Working Paper No.
(Cambridge, Massachusetts: National Bureau of Economic Research). Intermarket Sector Spread: The difference in yields between two fixed-income securities with the same maturity, but originating from different investment sectors.
Intermarket sector. Eichengreen and Mody () provide evidence of a tendency for primary market launch spreads to follow secondary market spreads with a three-to-four-quarter lag.
But they note that secondary market spreads can move differently over the short run due, in part, to market sentiment about emerging market debt as a distinct asset class. "What Explains the Changing Spreads on Emerging Market Debt?" (with Ashoka Mody), preliminary draft, February Revised version appears in Sebastian Edwards (ed.), The Economics of International Capital Flows (University of Chicago Press, ).
In an investment world with any number of potential credit shocks (see our coverage of debt crises in the eurozone, China, Japan, and the United States) and trillion dollar/euro/yen/yuan consequences, a detailed analysis of creditor risk and credit spreads is ned within the difference between one asset’s current yield and another’s — holding all else equal — is a.Eichengreen, Barry and Ashoka Mody, “What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?,” NBER Working Paper No.February Frankel, J.
“International Coordination,” HKS Faculty Research Working Paper Series, RWP,