Monetary Policy Spillovers – The Impact of Advanced Central Banks’ Decisions on Emerging Financial Markets
Gábor Sztanó
Abstract:The thesis delves into the impact of advanced central banks' monetary policies on emerging government bond markets, the so-called 'monetary policy spillovers.' Over the past decade, there has been a reported correlation between interest rates on advanced and emerging financial markets. Following the Global Financial Crisis, substantial international capital flows occurred, particularly to government bond markets of emerging countries, influenced by the aggressive monetary easing of the major central banks. The… Show more
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