IMF: EME bond spreads respond to fundamentals, financial stress
An IMF paper published on Tuesday shows that in the long run, economic fundamentals are significant determinants of emerging market sovereign bond spreads, while in the short run, financial volatility is a more important determinant of spreads.
Dimitri Bellas, Michael G. Papaioannou, and Iva Petrova, the paper's authors, use data from the Emerging Markets Bond Index compiled by JPMorgan, a bank, to analyse the short- and long-term relationship between emerging market sovereign bond spreads, a
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