The global long-term interest rate, financial risks and policy choices in EMEs
beSpacific 2014-02-10
Summary:
“The global long-term interest rate now matters much more for the monetary policy choices facing emerging market economies than a decade ago. The low or negative term premium in the yield curve in the advanced economies from mid-2010 has pushed international investors into EM local bond markets: by lowering local long rates, this has considerably […]
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