کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055184 1371485 2012 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Debt, interest rates, and integration of financial markets
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Debt, interest rates, and integration of financial markets
چکیده انگلیسی
► Higher budget deficits raise interest rates, but financial integration offsets interest rate differentials. ► We test crowding out and the degree of integration of government bond markets using spatial modelling techniques. ► The crowding out of long term interest rates is limited: a 1% increase in the debt ratio raises domestic rates by 2 pp. ► Financial integration implies an important spillover effect via international bond markets of OECD countries. ► Emerging markets are not as well integrated into international capital markets, causing a stronger crowding out effect.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 29, Issue 1, January 2012, Pages 48-59
نویسندگان
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