01719cas a2200253 a 4500 AALejournalIMF007227 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455259397 1018-5941 BD-DhAAL BD-DhAAL Unsal, Filiz. Sovereign Spreads and Contagion Risks in Asia / Filiz Unsal, Carlos Caceres. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper explores how much of the movements in the sovereign spreads of Asian economies over the course of the global financial crisis has reflected shifts in (i) global risk aversion; (ii) country-specific risks, directly from worsening fundamentals, and indirectly from spillovers originating in other sovereigns and the uncertainty surrounding exchange rates. Earlier in the crisis, the increase in market-implied contagion led to higher Asian sovereign bond yield spreads over swaps. But, after the crisis, Asia's sovereign spreads normalized, despite the debt crisis in the euro area, reflecting a fall in both exchange rate and spillover risks. Mode of access: Internet Caceres, Carlos. IMF Working Papers; Working Paper ; No. 2011/134 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/134/001.2011.issue-134-en.xml IMF e-Library