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Do economists' and financial markets' perspectives on the new members of the EU differ?
Luengnaruemitchai, Pipat (Author), Schandler, Susan (Author)

URLURL - Presentation file, Visit http://www.imf.org/external/pubs/ft/wp/2007/wp0765.pdf New window

Abstract
In the past several years, the ten new Central and Eastern European members ofthe European Union have enjoyed rapid growth but frequently alongside growing external imbalances. Economists have pointed to rising vulnerabilities, but markets compressed sovereign bond yields. This paper examines the evidence from the perspective of economists' vulnerability analysis and markets' pricing of sovereign bonds. It finds that spread are lower than can be explained by "fundamentals" and speculates on the causes andpermanence of this yield compression.

Language:English
Keywords:EU, mednarodne ekonomske integracije, članstvo, trg kapitala, finančni trg, obveznice, ekonomisti, ekonomska rast, EU, international economic integrations, membership, capital market, financial market, bonds, economists, economic growth
Work type:Statistics (i)
Organization:EF - Faculty of Economics
Year:2007
Publisher:International Monetary Fund
Number of pages:31 str.
Place:[Washington]
UDC:061.EU
COBISS.SI-ID:17269222 Link is opened in a new window
Views:442
Downloads:224
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