Capital lured to EMs by interest rate differentials, CBRT paper finds
Inflation another important ‘pull factor' post-crisis, but countries' growth rates have less effect
Interest rate differentials and inflation rates were the most significant pull factors of portfolio bond flows to emerging markets following the financial crisis, while the growth rate did not seem to play a significant role, according to a Central Bank of the Republic of Turkey working paper.
Determinants of bond flows to emerging markets: how do they change over time? by Yasemin Erduman and Neslihan Kaya, also found that, among the push factors, global liquidity was the most important driver
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