Hidden Bibliographic Details
| Other authors / contributors: | Kashiwase, Kenichiro, author.
Kodres, Laura E., author.
International Monetary Fund. Monetary and Capital Markets Department.
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| ISBN: | 1282447734
9781282447738
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| Digital file characteristics: | text file
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| Notes: | Includes bibliographical references (pages 35-36).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Despite recent turmoil, spreads on emerging market countries' sovereign bonds have fallen dramatically since mid-2002. Some have attributed the fall to improved economic fundamentals while others to ample global liquidity. The paper models spreads and attempts to empirically distinguish between the two factors. The results indicate that fundamentals, as embedded in credit ratings, are very important, but that expectations of future U.S. interest rates and volatility in those expectations are also a key determinant of emerging market spreads.
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| Other form: | Print version: Hartelius, Kristian. Emerging market spread compression. Washington, D.C. : International Monetary Fund, Monetary and Capital Markets Dept., ©2008
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