Global Monetary Conditions versus Country-Specific Factors in the Determination of Emerging Market Debt Spreads

Global Monetary Conditions versus Country-Specific Factors in the Determination of Emerging Market Debt Spreads

The authors offer evidence that U.S. interest rate policy has an important influence in the determination of credit spreads on emerging market bonds over U.S. benchmark treasuries and therefore on their cost of capital. Their analysis improves on the existing literature and understanding by addressi...

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Bibliographic Details
Main Authors: Dailami, Mansoor, Masson, Paul R., Padou, Jean Jose
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ABATEMENT
AUTOREGRESSION
BALANCE OF PAYMENTS
BANK LOANS
BANK OF ENGLAND
BENCHMARK
BONDS
BORROWING
BUSINESS CYCLES
CAPITAL FLOWS
CAPITAL MARKETS
CONTAGION
COST OF CAPITAL
CREDIT RISK
DEBT
DEVALUATION
DEVELOPMENT ECONOMICS
ECONOMETRICS
ECONOMIC ACTIVITY
ECONOMIC OUTLOOK
ECONOMIC RESEARCH
EMERGING MARKET ECONOMIES
EMERGING MARKETS
EMPIRICAL ANALYSIS
EQUATIONS
EQUILIBRIUM
EXCHANGE RATE
EXPECTED RETURN
EXPORTS
FEDERAL RESERVE SYSTEM
FINANCIAL CRISES
FINANCIAL MARKETS
FINANCIAL STABILITY
FORECASTS
FOREIGN EXCHANGE
GAME THEORY
GDP
GLOBAL INTEREST
IMPORTS
INCOME
INFLATION
INTEREST RATE
INTEREST RATES
LEADING INDICATORS
LIQUIDITY
M1
M2
MACROECONOMIC CONDITIONS
MACROECONOMIC MODELS
MACROECONOMICS
MARKET ECONOMIES
MARKET PRICES
MATURITIES
MONETARY POLICY
MONEY SUPPLY
NATIONAL INCOME
OIL
PROBABILITY OF DEFAULT
PROGRAMS
RESERVES
RISK NEUTRAL
SECURITIES
SOLVENCY
SUSTAINABILITY
TIME SERIES
Online Access:http://documents.worldbank.org/curated/en/2005/06/5846847/global-monetary-conditions-versus-country-specific-factors-determination-emerging-market-debt-spreads
http://hdl.handle.net/10986/8224

Internet

http://documents.worldbank.org/curated/en/2005/06/5846847/global-monetary-conditions-versus-country-specific-factors-determination-emerging-market-debt-spreads
http://hdl.handle.net/10986/8224

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