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150128 ||| eng |
| 020 |
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|a 9781498367868
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| 245 |
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0 |
|a Republic of Poland
|b Selected Issues Paper
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2014
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| 300 |
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|a 102 pages
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| 651 |
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4 |
|a Poland, Republic of
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| 653 |
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|a Sovereign bonds
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| 653 |
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|a Wealth
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| 653 |
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|a Private Pensions
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| 653 |
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|a Pension spending
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| 653 |
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|a Labour; income economics
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| 653 |
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|a Social Security and Public Pensions
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Nonwage Labor Costs and Benefits
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| 653 |
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|a Financial institutions
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| 653 |
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|a Taxes
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| 653 |
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|a Saving
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Investments: Bonds
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| 653 |
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|a Debts, External
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| 653 |
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|a National accounts
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| 653 |
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|a Labor
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| 653 |
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|a Expenditure
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| 653 |
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|a Business Taxes and Subsidies
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| 653 |
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|a Saving and investment
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| 653 |
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|a Bonds
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| 653 |
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|a Pensions
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Investment & securities
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| 653 |
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|a Taxation
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| 653 |
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|a Value-added tax
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| 653 |
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|a Public Finance
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| 653 |
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|a Spendings tax
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| 653 |
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|a Private savings
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| 710 |
2 |
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|a International Monetary Fund
|b European Dept
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Staff Country Reports
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| 028 |
5 |
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|a 10.5089/9781498367868.002
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| 856 |
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|u https://elibrary.imf.org/view/journals/002/2014/174/002.2014.issue-174-en.xml?cid=41679-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This Selected Issues paper considers the case of Poland to analyze global financial spillovers to emerging market (EM) sovereign bond markets. Foreign holdings of Polish government bonds have increased substantially over the last decade. Although foreign participation in local-currency sovereign bond markets provides an additional source of financing and reduces sovereign yields, it has also given rise to concerns about increased sensitivity to shifts in market sentiment. The analysis in this paper suggests that foreign participation plays an important role in transmitting global financial shocks to local-currency sovereign bond markets by increasing yield volatility and, beyond a certain threshold, amplifying these spillovers
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