Sovereign Debt Risk in Emerging Countries: Does Inflation Targeting Adoption Make Any Difference? - HAL Accéder directement au contenu
Pré-publication, Document de travail Année : 2015

Sovereign Debt Risk in Emerging Countries: Does Inflation Targeting Adoption Make Any Difference?

Résumé

Based on a sample of 38 emerging countries, we find that inflation targeting (IT) adoption improves sovereign debt risk. However, we show that IT adoption effectiveness is sensitive to several structural characteristics, such as the phase of the business cycle, the fiscal stance, and the level of development. In addition, the measure of the risk, namely ratings (rating agencies) or bond yield spreads (markets), as well as the form of IT (full-fledged or partial) is equally crucial for the effects of IT adoption on sovereign debt risk. Thus, our paper provides valuable insights for IT implementation as a device for improving emerging market economies’ access to international financial markets for financing long-term investment projects and supporting potential economic growth.
Fichier principal
Vignette du fichier
2015.04.pdf ( 544.44 Ko ) Télécharger
Format : deposit.widget.file_viewer.type_annex.author
Loading...

Dates et versions

halshs-01128239, version 1 (09-03-2015)
halshs-01128239, version 2 (25-03-2015)

Identifiants

  • HAL Id : halshs-01128239 , version 2

Citer

Weneyam Hippolyte Balima, Jean-Louis Combes, Alexandru Minea. Sovereign Debt Risk in Emerging Countries: Does Inflation Targeting Adoption Make Any Difference?. 2015. ⟨halshs-01128239v2⟩
236 Consultations
553 Téléchargements
Dernière date de mise à jour le 26/05/2024
comment ces indicateurs sont-ils produits

Partager

Gmail Facebook Twitter LinkedIn Plus