Foreign Participation in Emerging Markets’ Local Currency Bond Markets
IMF Working Papers, April 1, 2010
Source details
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- Foreign Participation in Emerging Markets’ Local Currency Bond Markets
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Bibliographic details
- Authors: Shanaka J Peiris
- Published: April 1, 2010
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451982602.001
Summary findings
- The paper estimates the impact of foreign participation on long-term local currency government bond yields and volatility in a group of emerging markets for 2000-2009.
- 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.
- Greater foreign participation does not necessarily result in increased volatility in bond yields in emerging markets and could even dampen volatility in some instances.
Methodology and scope
- Empirical approach: panel data analysis.
- Sample coverage: 10 emerging markets.
- Time period analyzed: 2000-2009.
- Document length: 20 pages.
- Publication: IMF Working Paper No. 2010/088, Issue 088, Volume 2010.
Subject areas and keywords
- Subject: Bond yields, Currencies, Financial institutions, Financial markets, Financial services, Money, Securities markets, Sovereign bonds, Yield curve.
- Keywords include: bond market, bond market imbalance, Bond Markets, bond yield, Bond yields, Currencies, emerging market, Emerging Market Economies, Global, government bond, government bond bond market, government bond bond yield, Securities markets, Sovereign bonds, WP, Yield curve, yield volatility, yields in EMs.
Content in this bundle
- Appendix I.