Mutual funds investing in emerging market economy (EME) bonds have increased almost seven-fold since the 2008 Great Financial Crisis (Graph 1). This development has raised two questions from a financial stability perspective. Firstly, how important is it to understand the fund-flow performance...

The paper by Kamber, Mohanty and Morley (KMM hereafter) is a carefully executed empirical investigation of the determinants of inflation in a broad sample of advanced and emerging market economies.A number of recent multi-country empirical studies of inflation dynamics have used estimated...