The authors offer evidence that U.S. interest rate policy has an important influence in the determination of credit spreads on emerging market bonds over U.S. benchmark treasuries and therefore on their cost of capital. Their analysis improves on the existing literature and understanding by addressing the dynamics of market expectations in shaping views on interest rate and monetary policy changes and by recognizing nonlinearities in the link between...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2005/06/01
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Рабочий документ в рамках исследования вопросов политики
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WPS3626
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1
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1
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2005/06/07
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Disclosed
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Global monetary conditions versus country-specific factors in the determination of emerging market debt spreads
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international finance
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Официальная версия документа (может содержать подписи, и т.д.)