UID:
almafu_9958088115202883
Umfang:
1 online resource (37 p.)
Ausgabe:
1st ed.
ISBN:
9786613866110
,
9781462332540
,
1462332544
,
9781452708676
,
1452708673
,
9781283553667
,
128355366X
,
9781451988239
,
1451988230
Serie:
IMF Working Papers
Inhalt:
This paper estimates the impact of foreign participation in determining long-term local currency government bond yields and volatility in a group of emerging markets from 2000-2009. The results of a panel data analysis of 10 emerging markets show that greater foreign participation in the domestic government bond market tends to significantly reduce long-term government yields. Moreover, greater foreign participation does not necessarily result in increased volatility in bond yields in emerging markets and, in fact, could even dampen volatility in some instances.
Anmerkung:
Description based upon print version of record.
,
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. EM Domestic Bond Market Developments; 1. BIS Quarterly Statistics on Bonds and Notes Outstanding; 1a. Foreign Participation in the Bond Market; 1b. Foreign Participation in the Bond Market; III. Benefits and Costs of Foreign Participation: A Literature Review; A. Can Foreign Participation Lower Bond Yields?; 2a. Long-term Government Bond Yields in EMS; 2b. Long-term Government Bond Yields in EMS; B. Does Foreign Participation Increase Bond Market Volatility?; C. What Does the Empirical Evidence Show?
,
IV. Data, Methodology, and Empirical ResultsA. Data; B. Methodology; C. Empirical Results; 2. Government Bond Turnover Ratios in 2008; 3. Fixed Effects Estimates of Long-Term Yields; 4. Impact of Foreign Investors' Participation on Government Bond Yield Volatility; V. Conclusions; Appendix I.; Data sources; References; Footnotes
,
English
Weitere Ausg.:
ISBN 9781451982602
Weitere Ausg.:
ISBN 1451982607
Sprache:
Englisch
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