Arbeitspapier
The Political Determinants of Government Bond Holdings
This paper analyzes the link between political factors and sovereign bond holdings of US investors in 60 countries over the 2003-2013 period. We find that, in general, US investors hold more bonds in countries with few political constraints on the government. Moreover, US investors respond to increased uncertainty around major elections by reducing government bond holdings. These effects are particularly significant in democratic regimes and countries with sound institutions, which enable effective implementation of fiscal consolidation measures or economic reforms.
- Sprache
-
Englisch
- Erschienen in
-
Series: IWH Discussion Papers ; No. 14/2016
- Klassifikation
-
Wirtschaft
Portfolio Choice; Investment Decisions
International Financial Markets
General Financial Markets: Government Policy and Regulation
Structure, Scope, and Performance of Government
National Debt; Debt Management; Sovereign Debt
- Thema
-
government bond portfolio
political factors
Treasury International Capital data
PPML
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Eichler, Stefan
Plaga, Timo
- Ereignis
-
Veröffentlichung
- (wer)
-
Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
- (wo)
-
Halle (Saale)
- (wann)
-
2016
- Handle
- URN
-
urn:nbn:de:gbv:3:2-54619
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Eichler, Stefan
- Plaga, Timo
- Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
Entstanden
- 2016
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