Do Local Currency Bond Markets Enhance Financial Stability?
Publication | October 2018
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This publication analyzes the financial vulnerability of developing countries during the global financial crisis.
Citable URL
This publication analyzes the financial vulnerability of developing countries during the global financial crisis and taper tantrum. It finds that currency depreciation, as a measure of financial vulnerability, was more limited in countries with faster growing local currency bond markets.
Contents
- Introduction
- Recent Developments in Asia's Local Currency Bond Markets
- Empirical Framework
- Empirical Findings
- Conclusion
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Published Version
Park, Donghyun, Kwanho Shin, and Shu Tian. 2021. "Do Local Currency Bond Markets Enhance Financial Stability? Some Empirical Evidence." Emerging Markets Finance and Trade 57 (2): 562–90. https://doi.org/10.1080/1540496X.2019.1696190.