United States interest rates, Latin American debt and financial contagion

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(78/2002)
cepal.docTypeRevistas
cepal.idSade20215
cepal.topicEngFINANCING AND EXTERNAL DEBT
cepal.topicSpaFINANCIAMIENTO Y DEUDA EXTERNA
cepal.workareaEngSTATISTICS
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorVelloso, Helvia
dc.contributor.authorBustillo, Inés
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T18:43:26Z
dc.date.available2014-01-02T18:43:26Z
dc.date.issued2002-12
dc.descriptionIncludes bibliography
dc.description.abstractThis article analyses the way in which Latin American bond spreads were affected by the changes in United States interest rates in the second half of the 1990s. Empirical analysis shows that, contrary to theory, in this period the spreads of emerging market bonds and United States interest rates moved in opposite directions; that there was financial contagion; that contraction of liquidity and financial contagion can offset the effects of those interest rates on the spreads of emerging market bonds at times of economic and financial turbulence and thus become the most important factors in the evolution of those spreads; and that the increased financial integration associated with the current globalization process has heightened the vulnerability of the developing economies to external shocks.
dc.formatTexto
dc.format.extentpáginas. 83-99
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2187-P
dc.identifier.urihttps://hdl.handle.net/11362/10908
dc.language.isoeng
dc.physicalDescriptionp. 83-99
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo78
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngEXTERNAL DEBT
dc.subject.unbisEngFINANCIAL CRISIS
dc.subject.unbisEngINTEREST RATES
dc.subject.unbisSpaCRISIS FINANCIERA
dc.subject.unbisSpaDEUDA EXTERNA
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaTASAS DE INTERES
dc.titleUnited States interest rates, Latin American debt and financial contagion
dc.type.coarrevista
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