{"id":8742,"date":"2022-07-27T06:33:01","date_gmt":"2022-07-27T06:33:01","guid":{"rendered":"https:\/\/depocen.org\/publications\/does-macroeconomic-transparency-help-governments-be-solventevidence-from-recent-data\/"},"modified":"2022-07-27T06:33:01","modified_gmt":"2022-07-27T06:33:01","slug":"does-macroeconomic-transparency-help-governments-be-solventevidence-from-recent-data","status":"publish","type":"publications","link":"https:\/\/depocen.org\/vi\/publications\/does-macroeconomic-transparency-help-governments-be-solventevidence-from-recent-data\/","title":{"rendered":"Does macroeconomic transparency help governments be solvent?\r\nEvidence from recent data."},"content":{"rendered":"<p>This paper investigates whether macroeconomic and data transparency standards lead to lower borrowing costs<br \/>\nin sovereign bond markets. We essentially show that emerging market countries which subscribed to the Special<br \/>\nData Dissemination Standard (SDDS) experienced a significant decline in borrowing cost proxied by sovereign<br \/>\nyield spreads on secondary markets. However, the adherence of these markets to the Code of Good Practices on<br \/>\nTransparency in Monetary and Financial Policies caused a significant increase in the yield spreads. There is no<br \/>\nimpact of the adherence to the Code of Good Practices in Fiscal Transparency on the changes of sovereign<br \/>\nspreads. In addition, the results suggest that a debtor country&#8217;s internal liquidity factor (measured by the total<br \/>\nreserves to total external debt service ratio) and external liquidity conditions (measured by the yield on US longterm<br \/>\nbond) are the most important determinants of emerging market spreads.<\/p>\n","protected":false},"featured_media":0,"template":"","cate_publications":[],"author_publications":[1566,1570],"topic_publications":[],"class_list":["post-8742","publications","type-publications","status-publish","hentry","author_publications-duc-khuong-nguyen","author_publications-ramzi-mallat"],"acf":[],"_links":{"self":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications\/8742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/types\/publications"}],"wp:attachment":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/media?parent=8742"}],"wp:term":[{"taxonomy":"cate_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/cate_publications?post=8742"},{"taxonomy":"author_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/author_publications?post=8742"},{"taxonomy":"topic_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/topic_publications?post=8742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}