影响厄瓜多尔主权风险动态的主要变量是什么?

IF 1.4 4区经济学 Q3 ECONOMICS

Journal of Applied Economics Pub Date : 2023-01-16 DOI:10.1080/15140326.2022.2158009

Paul Carrillo-Maldonado, Javier Díaz-Cassou, M. Flores

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What are the main variables that influence the dynamics of Ecuador’s sovereign risk?

ABSTRACT This 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.

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来源期刊

Journal of Applied Economics ECONOMICS-

CiteScore

3.00

自引率

0.00%

发文量

审稿时长

40 weeks

期刊介绍： The Journal of Applied Economics publishes papers which make a significant and original contribution to applied issues in micro and macroeconomics. The primary criteria for selecting papers are quality and importance for the field. Papers based on a meaningful and well-motivated research problem that make a concrete contribution to empirical economics or applied theory, in any of its fields, are especially encouraged. The wide variety of topics that are covered in the Journal of Applied Economics include: -Industrial Organization -International Economics -Labour Economics -Finance -Money and Banking -Growth -Public Finance -Political Economy -Law and Economics -Environmental Economics