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Crisis De Mercados De Bonos Emergentes Y Contagio: Dependencia Extrema

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  • Diego Nicolas López

Abstract

Las recientes crisis financieras han resaltado la importancia de los choques sobre los mercados de bonos soberanos emergentes como el mecanismo de difusión de éstos a un nivel internacional. A través del análisis de los eventos extremos sobre el spread de la deuda soberana de una muestra de países emergentes, el presente trabajo explora la dependencia extrema de la prima de riesgo colombiana a los mercados financieros internacionales. La arquitectura del mercado de capitales puede llevar al colapso de los mercados emergentes, haciendo que los fundamentales no determinen totalmente la liquidación de posiciones. La relación entre el riesgo país colombiano y los mercados de activos estadounidenses evidencia que una mayor incertidumbre global lleva a un mayor flight to quality" y por tanto a una mayor probabilidad de contagio para los bonos emergentes."

Suggested Citation

  • Diego Nicolas López, 2006. "Crisis De Mercados De Bonos Emergentes Y Contagio: Dependencia Extrema," Documentos CEDE 2243, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:002243
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    File URL: https://repositorio.uniandes.edu.co/bitstream/handle/1992/8007/dcede2006-29.pdf
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    References listed on IDEAS

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