railway boom of the 19th century. Emerging Markets and Sovereign Risk provides case studies, commentary and analysis of … process, risk assessment and pricing of sovereign debt, challenges related to foreign direct investment in emerging countries … growth. Today, emerging markets account for 40% of global GDP and are experiencing growth rates two or three times faster …

, global risk aversion and contagion. While there are ways to reduce the detrimental impact of balance sheet effects, these are … addition, the cost of self insurance might be too high and private insurance not easily available because of shallow markets …Three important external determinants of sovereign spreads in emerging countries are reviewed: balance sheet effects …

This paper aims to quantify the political risk effect and its different economic implications in normal and crisis … situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First … period than a normal period. However, their effect does not carry over globally after the 2008 financial crisis. Third …

, global risk aversion and contagion. While there are ways to reduce the detrimental impact of balance sheet effects, these are … addition, the cost of self insurance might be too high and private insurance not easily available because of shallow markets …Three important external determinants of sovereign spreads in emerging countries are reviewed: balance sheet effects …

-constrained markets such effects may lead to further declines in credit. Controlling for a host of fundamentals, we find a systematic … decline in foreign credit to emerging market private firms of about 25% in the first year following currency crises, which we … the second year and disappears entirely by the third year. We identify the effects of currency crises on the demand and …

. Currency Crises and Foreign Credit in Emerging Markets: Credit Crunch or Demand Effect? Galina Hale Federal Reserve Bank … Currency Crises and Foreign Credit in Emerging Markets: Credit Crunch or Demand Effect? Galina Hale∗ Federal Reserve Bank of … compared to the case when they are not lagged or when they are lagged by one year. 22Many emerging markets rely heavily on the …

role of monetary policy during the financial crisis. -- Emerging Markets ; Financial Crises ; International Capital Markets … augmented with a financial friction in the form of a fundamentals-related risk premium on external funds. The friction amplifies …, trade balance, and domestic credits in response to an adverse shock to the country risk premium. In addition, we analyze the …

less informed and more prone to herding. -- Corporate Bond Spreads ; Sovereign Ceiling ; Default Risk ; Emerging Market …, macroeconomic conditions, sovereign risk, and global factors. A variance decomposition analysis shows that firm …This study explores the determinants of corporate bond spreads in emerging markets economies. Using a largely …

contagion. Sovereign credit default swap pricing provides a number of advantages in understanding emerging market instability of … continued support for the theory of investor herding in international financial markets, and a focus on a small number of … economic variables in determining sovereign credit worthiness. Investors do not study the relative risk factors as much as …

understanding the nature and dynamics of boom-bust cycles driven by international capital flows in emerging markets. Its main policy … is however, need to develop a new approach to financial control and place greater emphasis on managing capital inflows …The Keynesian analysis of financial stability as developed by Hyman Minsky, provides considerable insights into …