Análisis de la incidencia de la crisis financiera a través de los spreads de bonos soberanos en la Unión Europea y América Latina
This thesis aims to analyze the evolution and determinants of sovereign bond spreads, in order to probe that they are a good instrument to assess crisis, since bond spreads reflect the economic situation. We consider the current financial crisis as a critical period of analysis. The evolutions of sp...
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| Formato: | tesis doctoral |
| Estado: | Versión publicada |
| Fecha de publicación: | 2013 |
| País: | España |
| Recursos: | Universitat Rovira i virgili (URV) |
| Repositorio: | Repositori Institucional de la Universitat Rovira i Virgili |
| OAI Identifier: | oai:urv.cat:TDX:1256 |
| Acesso em linha: | https://hdl.handle.net/20.500.11797/TDX1256 http://hdl.handle.net/10803/126445 |
| Access Level: | acceso abierto |
| Palavra-chave: | 336 - Finances. Banca. Moneda. Borsa 33 - Economia |
| Resumo: | This thesis aims to analyze the evolution and determinants of sovereign bond spreads, in order to probe that they are a good instrument to assess crisis, since bond spreads reflect the economic situation. We consider the current financial crisis as a critical period of analysis. The evolutions of spreads are observed for two specific geographical areas and we identify their main drivers. In particular, we analyze sovereign bond markets from European Union and Latin America. For each group of markets, we apply three methodologies: Pearson correlations, self-organizing Kohonen maps and panel data. Results of each methodology are consistent and significant, which allows us to obtain interesting conclusions regarding financial markets analyzed. |
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