01779cas a2200253 a 4500 AALejournalIMF012064 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505481 1018-5941 BD-DhAAL BD-DhAAL Jaramillo, Laura. Bond Yields in Emerging Economies : It Matters What State You Are In / Laura Jaramillo, Anke Weber. Washington, D.C. : International Monetary Fund, 2012. 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 While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing relevance. This paper finds that the extent to which fiscal variables affect domestic bond yields in emerging economies depends on the level of global risk aversion. During tranquil times in global markets, fiscal variables do not seem to be a significant determinant of domestic bond yields in emerging economies. However, when market participants are on edge, they pay greater attention to country-specific fiscal fundamentals, revealing greater alertness about default risk. Mode of access: Internet Weber, Anke. IMF Working Papers; Working Paper ; No. 2012/198 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/198/001.2012.issue-198-en.xml IMF e-Library