Jump to ContentJump to Main Navigation
Emerging Markets and Financial GlobalizationSovereign Bond Spreads in 1870-1913 and Today$
Users without a subscription are not able to see the full content.

Paolo Mauro, Nathan Sussman, and Yishay Yafeh

Print publication date: 2006

Print ISBN-13: 9780199272693

Published to Oxford Scholarship Online: May 2006

DOI: 10.1093/0199272697.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 20 October 2018

Spreads, News, and Macroeconomics: A Multivariate Regression Analysis

Spreads, News, and Macroeconomics: A Multivariate Regression Analysis

Chapter:
(p.86) 5 Spreads, News, and Macroeconomics: A Multivariate Regression Analysis
Source:
Emerging Markets and Financial Globalization
Author(s):

Paolo Mauro (Contributor Webpage)

Nathan Sussman

Yishay Yafeh (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199272697.003.0005

This chapter presents a systematic attempt to identify the determinants of bond spreads. Using multivariate regression analysis, it relates emerging market bond spreads for 1870-1913 and for the modern period to macroeconomic variables and to categories of news articles. It is shown that past and present investors pay attention to both macroeconomic fundamentals and to information reflected in the news, especially regarding violent conflicts. News on institutional reforms rarely elicit investor response. Country-specific fundamentals and news play less of a role in determining bond spreads today than they did in the past.

Keywords:   bond spreads, macroeconomic fundamentals, instability, wars, regression analysis, country fixed effects

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .