The Impact of Foreign Investor Flows on Emerging Market Local Currency Bonds

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The Impact of Foreign Investor Flows on Emerging Market Local Currency Bonds

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Title: The Impact of Foreign Investor Flows on Emerging Market Local Currency Bonds
Author: Maddy-Weitzman, Daniel
Advisor: Banerjee, Biswajit
Department: Haverford College. Dept. of Economics
Type: Thesis (B.A.)
Issue Date: 2012
Abstract: Driven by the desire to reduce the currency mismatch associated with foreign-currency borrowing, Emerging Market countries have developed their local currency bond markets over the past decade. As foreign investors have increased their participation in this asset class, some risks remain. This paper analyzes the impact of foreign investment flows on local-currency bond yields of 16 countries from 2006-2011. Results indicate that foreign investor inflows reduce borrowing costs, but outflows are associated with greater volatility during the financial crisis.
Subject: Currency question -- Developing countries -- Econometric models
Subject: Bond market -- Developing countries -- Econometric models
Subject: Investments, Foreign -- Developing countries -- Econometric models
Terms of Use: http://creativecommons.org/licenses/by-nc/3.0/us/
Permanent URL: http://hdl.handle.net/10066/9064

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Maddy-Weitzman, Daniel. "The Impact of Foreign Investor Flows on Emerging Market Local Currency Bonds". 2012. Available electronically from http://hdl.handle.net/10066/9064.

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