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|z 9781451868722
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Kodres, Laura.
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|a Emerging Market Spread Compression :
|b Is it Real or is it Liquidity? /
|c Laura Kodres, Kristian Hartelius, Kenichiro Kashiwase.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2008.
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|a 1 online resource (36 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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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|a Mode of access: Internet
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|a Hartelius, Kristian.
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|a Kashiwase, Kenichiro.
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|a IMF Working Papers; Working Paper ;
|v No. 2008/010
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2008/010/001.2008.issue-010-en.xml
|z IMF e-Library
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