Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises /

The effects of unanticipated movements in global risk on nine emerging bond markets are investigated. The components of global risk are volatility, credit, and liquidity risks. Country and contagion risks are also studied individually. A historical decomposition of bond spreads is used to identify t...

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Bibliografiska uppgifter
Huvudupphovsman: Gonzalez-Hermosillo, Brenda
Övriga upphovsmän: Dungey, Mardi, Fry, Renee, Martin, Vance
Materialtyp: Tidskrift
Språk:English
Publicerad: Washington, D.C. : International Monetary Fund, 2003.
Serie:IMF Working Papers; Working Paper ; No. 2003/251
Länkar:Full text available on IMF
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100 1 |a Gonzalez-Hermosillo, Brenda. 
245 1 0 |a Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises /  |c Brenda Gonzalez-Hermosillo, Vance Martin, Mardi Dungey, Renee Fry. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2003. 
300 |a 1 online resource (44 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The effects of unanticipated movements in global risk on nine emerging bond markets are investigated. The components of global risk are volatility, credit, and liquidity risks. Country and contagion risks are also studied individually. A historical decomposition of bond spreads is used to identify the relative contributions of risk during 1998-99. The empirical results show that the Russian/LTCM crises were characterized by increases in global credit risk, while the relative size of global risk factors was mixed for the Brazilian crisis, with no component dominating. Country risk is found to be important for all countries, while there is little evidence of contagion risk. 
538 |a Mode of access: Internet 
700 1 |a Dungey, Mardi. 
700 1 |a Fry, Renee. 
700 1 |a Martin, Vance. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/251 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2003/251/001.2003.issue-251-en.xml  |z IMF e-Library