Naslov
Fiscal, external and global determinants of Croatian government bond spreads

Autori
Barbić, Tajana ; Čondić-Jurkić, Iva

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Western Balkans: From Stabilization to Integration / Antevski, Miroslav ; Mitrović, Dragana - Beograd : The Institute of International Politics and Economics, Belgrade, 2012, 321-333

ISBN
978-86-7067-160-7

Skup
Western Balkans: From Stabilization to Integration

Mjesto i datum
Beograd, Srbija, 07.07.2011. - 08.07.2011

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
government bonds spread; fiscal and external vulnerabilities; global volatility; VAR

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA