Search Economics Publications
Foreign and Domestic Investment in Global Bond Markets
Foreign investors seem more sensitive to risk–return profile than domestic investors, especially in emerging markets, and are also attracted by greater market openness and sound sovereign credit ratings.
Exchange Rate Dynamics and United States Dollar-Denominated Sovereign Bond Prices in Emerging Markets
This paper conducts an empirical test on dollar-denominated sovereign credit spreads in emerging markets, such as the Philippines, to examine their relationship with each country’s exchange rate and the United States Treasury yields.
Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals
This paper analyzes the behavior of gross capital inflows across 34 emerging markets. Findings suggest that emerging markets need to closely monitor their lenders and investors to assess their inflow exposures to global push factors.
20 Years After the Asian Financial Crisis: Lessons Learned and Future Challenges
This brief revisits lessons from the Asian financial crisis, examines the emerging challenges that could undermine future financial stability, and concludes with some policy considerations.
A Contagion through Exposure to Foreign Banks during the Global Financial Crisis
This paper develops an empirical methodology to test the contagion effect at the country level using bilateral data on bank claims between countries.
International Conference on Financial Cycles, Systemic Risk, Interconnectedness, and Policy Options for Resilience: Overview and Summary of Papers
The theory, practices, and policy implications of financial interconnectedness for systemic risk and financial stability were discussed at a conference held on 8-9 September 2016 in Sydney, Australia.
Asia Bond Monitor - June 2016
Bond yields in most emerging East Asian markets fell between 1 March and 15 May amid a weak global economy. The exceptions were the People’s Republic of China (PRC) and the Philippines, where yields generally picked up.
Asia Bond Monitor - March 2016
Bond yields in most emerging East Asian markets declined amid mounting gloom over global growth prospects. The main exceptions to the downward trend were the People’s Republic of China (PRC) and Hong Kong, China.
Asia Bond Monitor - November 2015
The Asia Bond Monitor reviews recent developments in East Asian local currency bond markets along with the outlook, risks, and policy options. This issue includes the results of the AsianBondsOnline bond market liquidity survey.
Managing Capital Flows in Asia: An Overview of Key Issues
Global capital flows into emerging markets, including those in Asia, continue to be volatile, generating both benefits and costs.