IMF paper examines causes of financial market spillovers
Study analyses financial market spillovers between 2001 and 2012
There tends to be a "large" co-movement of bond yields between two countries where one has a "large amount of bilateral portfolio exposure" in the other, according to a working paper published by the IMF last week.
In Determinants of Financial Market Spillovers: The Role of Portfolio Diversification, Trade, Home Bias, and Concentration, the economist Yoko Shinagawa analyses four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration.
In addition to
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