Publication:
What are the Main Variables that Influence the Dynamics of Ecuador’s Sovereign Risk?

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dc.contributor.authorCarrillo-Maldonado, Paul
dc.contributor.authorDíaz-Cassou, Javier
dc.contributor.authorFlores, Miguel
dc.date.accessioned2024-06-11T20:15:42Z
dc.date.available2024-06-11T20:15:42Z
dc.date.issued2023-01-16
dc.description.abstractThis paper analyzes the determinants of Ecuador’s sovereign spreads as measured by the EMBI index. We use Bayesian algorithms to estimate a structural vector autoregressive model with three blocks (international, regional, and domestic). Global variables drive most of the dynamics of the Ecuadorian EMBI, also influenced by the evolution of sovereign risks in other Latin American countries like Chile and Peru. We likewise show that the increase in public debt is the primary domestic variable affecting the Ecuadorian EMBI.en
dc.identifier.citationJournal of Applied Economics
dc.identifier.doi10.1596/41694
dc.identifier.issn1514-0326 (print)
dc.identifier.issn1667-6726 (online)
dc.identifier.urihttps://hdl.handle.net/10986/41694
dc.language.isoen_US
dc.publisherTaylor & Francis
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectEMBI
dc.subjectBLOCKED SVAR
dc.subjectINTERNATIONAL MARKET
dc.subjectSPILLOVER EFFECT
dc.titleWhat are the Main Variables that Influence the Dynamics of Ecuador’s Sovereign Risk?en
dc.typeJournal Article
dspace.entity.typePublication
okr.associatedcontenthttps://www.tandfonline.com/doi/full/10.1080/15140326.2022.2158009 Journal website (version of record)
okr.crossref.titleWhat are the Main Variables that Influence the Dynamics of Ecuador’s Sovereign Risk?
okr.date.disclosure2024-06-11
okr.doctypePublications & Research
okr.doctypePublications & Research::Journal Article
okr.externalcontentExternal Content
okr.identifier.doi10.1080/15140326.2022.2158009
okr.identifier.doihttps://doi.org/10.1596/41694
okr.peerreviewAcademic Peer Review
okr.region.administrativeLatin America & Caribbean
okr.region.countryEcuador
okr.topicUrban Development::Municipal Bond Markets
okr.topicFinance and Financial Sector Development::International Financial Markets
okr.volume26 (1)
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