Fiscal, external and global determinants of Croatian government bond spreads (CROSBI ID 608737)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Barbić, Tajana ; Čondić-Jurkić, Iva
engleski
Fiscal, external and global determinants of Croatian government bond spreads
Deterioration in the fiscal positions, accompanied with turbulences in global financial markets, led to sharp increase in sovereign bond spreads of most emerging European countries in past few years. This paper aims to assess the main underlying factors of Croatian government bond spread variations, i.e. the impact of local macroeconomic conditions and the global market environment on the bond spread. Indicators of fiscal, external and overall market conditions are employed in VAR analysis. We found that shocks to the fiscal and current account balance are the main drivers of the variation in Croatian government bond spread, although the impact of global market volatility should not be undermined.
government bonds spread; fiscal and external vulnerabilities; global volatility; VAR
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Podaci o prilogu
321-333.
2012.
objavljeno
Podaci o matičnoj publikaciji
Western Balkans: From Stabilization to Integration
Antevski, Miroslav ; Mitrović, Dragana
Beograd: The Institute of International Politics and Economics, Belgrade
978-86-7067-160-7
Podaci o skupu
Nepoznat skup
predavanje
29.02.1904-29.02.2096