TY  - BOOK
AU  - Arora,Vivek B.
AU  - Cerisola,Martin D.
TI  - How Does U.S. Monetary Policy Influence Economic Conditions in Emerging Markets?
T2  - IMF Working Papers; Working Paper
SN  - 1451856814 :
SN  - 1018-5941
PY  - 2000///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Bond
KW  - imf
KW  - Contagion
KW  - Debt Service
KW  - External Debt
KW  - Herding
KW  - Multimod
KW  - Bulgaria
N2  - This paper quantifies the economic impact of changes in U.S. monetary policy on emerging market countries. We explore empirically how country risk, as proxied by sovereign bond spreads, is influenced by U.S. monetary policy, country-specific fundamentals, and conditions in global capital markets. In addition, we simulate the direct effects of a tightening in U.S. monetary policy on economic conditions in developing countries. While country-specific fundamentals are important in explaining fluctuations in country risk, the stance and predictability of U.S. monetary policy are also important for stabilizing capital flows and capital market conditions and fostering economic growth in developing countries
UR  - http://elibrary.imf.org/view/IMF001/03149-9781451856811/03149-9781451856811/03149-9781451856811.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451856811
ER  -