BAŞLICA MAKROEKONOMİK GÖSTERGELERİN GELİŞMEKTE OLAN ÜLKELER TAHVİL ENDEKSİ ÜZERİNDEKİ ETKİSİ

This paper examines the effects of major macroeconomic fundamentals on emerging market bond index spreads by using a panel of 25 emerging market countries’ bond index spreads and a set of macroeconomic indicators between 2000 and 2009. The findings of the study suggest that there is a positive relat...

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Bibliographic Details
Published in:Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi dergisi 2015-09, Vol.15 (2), p.15-30
Main Authors: S.M. Zahedul Islam Chowdhury, Yılmaz BAYAR, Cüneyt KILIÇ
Format: Article
Language:English
Subjects:
Emerging Markets
Emerging Markets Bond Index Spreads
Gelişmekte Olan Ülkeler
Gelişmekte Olan Ülkeler Tahvil Endeksi
Panel Data Analizi
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Summary:This paper examines the effects of major macroeconomic fundamentals on emerging market bond index spreads by using a panel of 25 emerging market countries’ bond index spreads and a set of macroeconomic indicators between 2000 and 2009. The findings of the study suggest that there is a positive relationship between bond index spread and foreign direct investment, inflation and a negative relationship between bond index spread and GDP, reserve in total external debt. Major determinants of the emerging markets bond index are determined by using regression analysis based on ordinary least squares method has been applied consisting of fixed effect model, random effect model, but Hausman test showed that fixed effect model is more appropriate.
ISSN:1302-1966
2651-4117