Determinants of sovereign bond yields in emerging economies: Some panel inferences
In the backdrop of International financial crisis, debt markets across the globe became highly volatile, highly contagious and pose a high risk to advanced as well as emerging economies. In this regard, the study tries to identify the proximate determinants of sovereign bond yields in emerging econo...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2016-09-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1201.pdf
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| Summary: | In the backdrop of International financial crisis, debt markets across the globe
became highly volatile, highly contagious and pose a high risk to advanced as well as
emerging economies. In this regard, the study tries to identify the proximate determinants
of sovereign bond yields in emerging economies from 1980 to 2013. The empirical results
of Pedroni panel cointegration tests and dynamic ordinary least squares (DOLS) tests show
that the factors like exchange rate, federal reserve rate, oil price, US bond yield, gold price
and real interest rate are the proximate determinants of the emerging economies’ bond
yields. |
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| ISSN: | 1841-8678 1844-0029 |