Arbeitspapier

O papel dos fundamentos domésticos na vulnerabilidade econômica dos emergentes

This study aims to evaluate policies that can potentially improve the economic vulnerability of a group of emerging market countries that comprises 23 countries in the period 1998-2007, coping up to 96% of the JPMorgan Emerging Markets Bond Index Global as of December 2007. Through a panel data model on sovereign spreads and based on the reasoning that the impact of a global risk aversion shock is country-specific, this study focuses on the role of the macroeconomic fundamentals as multipliers of external shocks. The results support policies towards financial liberalization, public debt management, fiscal policy sustainability, consistent economic growth, development of the domestic financial market, and improvements in governance indicators especially the rules of law and regulatory quality.

Language
Portugiesisch

Bibliographic citation
Series: Texto para Discussão ; No. 1358

Classification
Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
International Financial Markets
Global Outlook
Subject
Wirtschaftliche Anpassung
Schwellenländer

Event
Geistige Schöpfung
(who)
Moreira, Ajax
Rocha, Katia
Siqueira, Roberto
Event
Veröffentlichung
(who)
Instituto de Pesquisa Econômica Aplicada (IPEA)
(where)
Brasília
(when)
2008

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Moreira, Ajax
  • Rocha, Katia
  • Siqueira, Roberto
  • Instituto de Pesquisa Econômica Aplicada (IPEA)

Time of origin

  • 2008

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