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

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annif.suggestionseconomic development|financial markets|security market|emerging markets|credit ratings|economic growth|economic crises|bonds|marketing|international economics|enen
annif.suggestions.linkshttp://www.yso.fi/onto/yso/p4584|http://www.yso.fi/onto/yso/p7536|http://www.yso.fi/onto/yso/p12456|http://www.yso.fi/onto/yso/p27277|http://www.yso.fi/onto/yso/p24743|http://www.yso.fi/onto/yso/p6150|http://www.yso.fi/onto/yso/p6172|http://www.yso.fi/onto/yso/p18594|http://www.yso.fi/onto/yso/p5878|http://www.yso.fi/onto/yso/p16532en
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.orcidhttps://orcid.org/0000-0002-2066-5208-
dc.contributor.organizationfi=Vaasan yliopisto|en=University of Vaasa|
dc.date.accessioned2021-02-11T10:12:34Z
dc.date.accessioned2025-06-25T12:49:54Z
dc.date.available2021-02-22T01:00:24Z
dc.date.issued2019-02-22
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.notification© 2019 Elsevier. This manuscript version is made available under the Creative Commons Attribution–NonCommercial–NoDerivatives 4.0 International (CC BY–NC–ND 4.0) license, https://creativecommons.org/licenses/by-nc-nd/4.0/-
dc.description.reviewstatusfi=vertaisarvioitu|en=peerReviewed|-
dc.embargo.lift2021-02-22
dc.embargo.terms2021-02-22
dc.format.bitstreamtrue
dc.format.contentfi=kokoteksti|en=fulltext|-
dc.format.extent16-
dc.format.pagerange81-96-
dc.identifier.olddbid13612
dc.identifier.oldhandle10024/12109
dc.identifier.urihttps://osuva.uwasa.fi/handle/11111/1000
dc.identifier.urnURN:NBN:fi-fe202102114540-
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/10024/12109
dc.subjectfinancial development-
dc.subjectgovernment bond markets-
dc.subjectquantile regression-
dc.subject.disciplinefi=Laskentatoimi ja rahoitus|en=Accounting and Finance|-
dc.subject.ysoemerging markets-
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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