کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5087179 1478250 2016 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Asian emerging-market currencies in the international debt market (1994-2014)
ترجمه فارسی عنوان
ارزهای بازار در حال ظهور آسیا در بازار بدهی بین المللی (1994-2014)
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper investigates the increasing presence of Asian emerging-market currencies in the international debt market over the last two decades. I use the “original sin” index developed by Eichengreen et al. (The pain of original sin. 〈http://elsa.berkeley.edu/~;;eichengr/research/ospainaug21-03.pdf〉 (August, 2003) to measure the use of an economy's home currency in international debt relative to the total international debt of its residents. The relative reliance on home currency debt is seen to have increased markedly in a number of economies. Using a random effects Tobit model, I examine factors underlying recent changes for a sample of nine Asian emerging market economies. The results suggest the importance of economic size, strength of institutions, and financial market development.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Asian Economics - Volume 42, February 2016, Pages 20-32
نویسندگان
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