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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dc.contributor.advisor Banerjee, Biswajit
dc.contributor.author Maddy-Weitzman, Daniel
dc.date.accessioned 2012-08-27T18:48:47Z
dc.date.available 2012-08-27T18:48:47Z
dc.date.issued 2012
dc.identifier.uri http://hdl.handle.net/10066/9064
dc.description.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. en
dc.description.sponsorship Haverford College. Dept. of Economics
dc.language.iso en_US en
dc.rights.uri http://creativecommons.org/licenses/by-nc/3.0/us/
dc.subject.lcsh Currency question -- Developing countries -- Econometric models
dc.subject.lcsh Bond market -- Developing countries -- Econometric models
dc.subject.lcsh Investments, Foreign -- Developing countries -- Econometric models
dc.title The Impact of Foreign Investor Flows on Emerging Market Local Currency Bonds en
dc.type Thesis (B.A.) en


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http://creativecommons.org/licenses/by-nc/3.0/us/ Except where otherwise noted, this item's license is described as http://creativecommons.org/licenses/by-nc/3.0/us/