Differences in main drivers for sovereign risk spread in euro and non-euro countries.
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F13%3A%230002190" target="_blank" >RIV/47813059:19520/13:#0002190 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Differences in main drivers for sovereign risk spread in euro and non-euro countries.
Original language description
The aim of the paper is to examine the main drivers for sovereign risk spread in the European Union member states in a period 1990-2011. The empirical estimation is performed for 24 EU member states; Germany, Luxembourg, Estonia as well as Croatia were excluded. We performed estimation on three different panels (EU24, EURO, non EURO) with the goal to find differences between euro and non-euro countries We used next variables for testing the impact on sovereign bond spread: German Bunds' interest, budgetbalance to GDP, debt to GDP, GDP growth, openness, terms of trade growth, inflation and the fiscal rules index. Correlation analysis identified the strong correlation between sovereign yield spread and budget balance. This is the common trend for all panels. Likewise, fiscal rules index is strong correlated with spread and it is more noticeable in EURO panel. The improvement of fiscal discipline reduces sovereign yield spreads. The biggest difference between panels was found for the de
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GAP403%2F11%2F2073" target="_blank" >GAP403/11/2073: Procyclicality of financial markets, asset price bubbles and macroprudential regulation</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Eurozone Future: From Crizis to Stabilization, reform and Growth?
ISBN
978-80-87106-69-3
ISSN
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e-ISSN
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Number of pages
13
Pages from-to
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Publisher name
Martin Stříž Publishing
Place of publication
Bučovice
Event location
Brno
Event date
Nov 28, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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