Financial development, government bond returns, and stability : International evidence

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dc.contributor.authorBoubaker, Sabri
dc.contributor.authorNguyen, Duc Khuong
dc.contributor.authorPiljak, Vanja
dc.contributor.authorSavvides, Andreas
dc.contributor.departmentfi=Ei tutkimusalustaa|en=No platform|-
dc.contributor.facultyfi=Laskentatoimen ja rahoituksen yksikkö|en=School of Accounting and Finance|-
dc.contributor.organizationfi=Vaasan yliopisto|en=University of Vaasa|
dc.date.accessioned2019-10-17T13:16:51Z
dc.date.accessioned2025-06-25T12:18:35Z
dc.date.available2021-07-01T00:00:21Z
dc.date.issued2019-07-01
dc.description.abstractThis 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.-
dc.description.reviewstatusfi=vertaisarvioitu|en=peerReviewed|-
dc.embargo.lift2021-07-01
dc.embargo.terms2021-07-01
dc.format.bitstreamtrue
dc.format.contentfi=kokoteksti|en=fulltext|-
dc.format.extent43-
dc.format.pagerange81-96-
dc.identifier.olddbid10443
dc.identifier.oldhandle10024/9758
dc.identifier.urihttps://osuva.uwasa.fi/handle/11111/18
dc.identifier.urnURN:NBN:fi-fe2019101733554-
dc.language.isoeng-
dc.publisherElsevier-
dc.relation.doi10.1016/j.intfin.2019.02.006-
dc.relation.ispartofjournalJournal of International Financial Markets, Institutions and Money-
dc.relation.issn1042-4431-
dc.relation.issn1873-0612-
dc.relation.urlhttps://doi.org/10.1016/j.intfin.2019.02.006-
dc.relation.volume61-
dc.rightsCC BY-NC-ND 4.0-
dc.source.identifierWOS: 000471842400005-
dc.source.identifierScopus: 85062105657-
dc.source.identifierhttps://osuva.uwasa.fi/handle/10024/9758
dc.subjectFinancial development-
dc.subjectGovernment bond markets-
dc.subjectEmerging markets-
dc.subjectQuantile regression-
dc.subject.disciplinefi=Laskentatoimi ja rahoitus|en=Accounting and Finance|-
dc.titleFinancial development, government bond returns, and stability : International evidence-
dc.type.okmfi=A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä|en=A1 Peer-reviewed original journal article|sv=A1 Originalartikel i en vetenskaplig tidskrift|-
dc.type.publicationarticle-
dc.type.versionacceptedVersion-

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