How Long to Read Determinants of Sovereign Bond Spreads in Emerging Markets

How Long Does it Take to Read Determinants of Sovereign Bond Spreads in Emerging Markets?

It takes the average reader and 42 minutes to read Determinants of Sovereign Bond Spreads in Emerging Markets by Mr. Balazs Csonto

Assuming a reading speed of 250 words per minute. Learn more

Description

We analyze the relationship between global and country-specific factors and emerging market debt spreads from three different angles. First, we aim to disentangle the effect of global and country-specific developments, and find that while both country-specific and global developments are important in the long-run, global factors are main determinants of spreads in the short-run. Second, we investigate whether and how the strength of fundamentals is related to the sensitivity of spreads to global factors. Countries with stronger fundamentals tend to have lower sensitivity to changes in global risk aversion. Third, we decompose changes in spreads and analyze the behavior of explained and unexplained components over different periods. To do so, we break down fitted changes in spreads into the contribution of country-specific and global factors, as well as decompose changes in the residual into the correction of initial misalignment and an increase/decrease in misalignment. We find that changes in spreads follow periods of tightening/widening, which are well-explained by the model; and the dynamics of the components of the unexplained residual follow all the major developments that impact market sentiment. In particular, we find that in the periods of severe marketstress, such as during the intensive phase of the Eurozone debt crisis, global factors tend to drive changes in the spreads and the misalignment tends to increase in magnitude and its relative share in actual spreads.

How long is Determinants of Sovereign Bond Spreads in Emerging Markets?

Determinants of Sovereign Bond Spreads in Emerging Markets by Mr. Balazs Csonto is 42 pages long, and a total of 10,584 words.

This makes it 14% the length of the average book. It also has 13% more words than the average book.

How Long Does it Take to Read Determinants of Sovereign Bond Spreads in Emerging Markets Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 57 minutes to read Determinants of Sovereign Bond Spreads in Emerging Markets aloud.

What Reading Level is Determinants of Sovereign Bond Spreads in Emerging Markets?

Determinants of Sovereign Bond Spreads in Emerging Markets is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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