TY - BOOK ID - 11953877 TI - Bond yields in emerging economies AU - Jaramillo, Laura AU - Weber, Anke PY - 2012 VL - WP/12/198 SN - 1475507755 1475505485 1475511035 1475531362 9781475531367 9781475507751 9781475505481 9781475505481 9781475511031 PB - [Washington, D.C.] International Monetary Fund DB - UniCat KW - Finance KW - Business & Economics KW - Investment & Speculation KW - Bonds. KW - Investments KW - Bond issues KW - Debentures KW - Negotiable instruments KW - Securities KW - Debts, Public KW - Stocks KW - Bonds KW - E-books KW - Finance: General KW - Investments: Bonds KW - Public Finance KW - Financial Markets and the Macroeconomy KW - Fiscal Policy KW - International Financial Markets KW - Debt KW - Debt Management KW - Sovereign Debt KW - General Financial Markets: General (includes Measurement and Data) KW - Investment & securities KW - Public finance & taxation KW - Bond yields KW - Government debt management KW - Emerging and frontier financial markets KW - Public debt KW - Securities markets KW - Financial institutions KW - Public financial management (PFM) KW - Financial markets KW - Financial services industry KW - Capital market KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:11953877 AB - While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing relevance. This paper finds that the extent to which fiscal variables affect domestic bond yields in emerging economies depends on the level of global risk aversion. During tranquil times in global markets, fiscal variables do not seem to be a significant determinant of domestic bond yields in emerging economies. However, when market participants are on edge, they pay greater attention to country-specific fiscal fundamentals, revealing greater alertness about default risk. ER -