Please use this identifier to cite or link to this item: https://ktisis.cut.ac.cy/handle/10488/13692
Title: Financial development, government bond returns, and stability: International evidence
Authors: Boubaker, Sabri 
Nguyen, Duc Khuong 
Piljak, Vanja 
Savvides, Andreas 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Keywords: Emerging markets;Financial development;Government bond markets;Quantile regression
Issue Date: Jul-2019
Source: Journal of International Financial Markets, Institutions and Money, 2019, vol. 61, pp. 81-96
Volume: 61
Start page: 81
End page: 96
Journal: Journal of International Financial Markets, Institutions and Money 
Abstract: This paper investigates the effect of financial development on government bond returns in developed and emerging markets under different market conditions. Using a quantile regression framework for quarterly panel data from 28 countries over 1999–2015, our results reveal that the effect of financial development on government bond returns (changes in bond prices) differs according to conditions in the market and between developed and emerging markets. The effect is positive and significant only in good market conditions for developed markets. For emerging markets financial development has a positive and significant effect for good market conditions but the effect is negative and significant for bad market conditions.
ISSN: 1042-4431
DOI: 10.1016/j.intfin.2019.02.006
Rights: © Elsevier
Type: Article
Affiliation : South Champagne Business School 
IPAG Business School 
University of Vaasa 
Cyprus University of Technology 
Appears in Collections:Άρθρα/Articles

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