|
EconStor >
Bank of Canada, Ottawa >
Bank of Canada Working Papers >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/53811
|
| | |
| Title: | | Exchange rate regimes, globalisation, and the cost of capital in emerging markets  |
| Authors: | | Diez de los Rios, Antonio |
| Issue Date: | | 2007 |
| Series/Report no.: | | Bank of Canada Working Paper 2007,29 |
| Abstract: | | This paper presents a multifactor asset pricing model for currency, bond, and stock returns for ten emerging markets to investigate the effect of the exchange rate regime on the cost of capital and the integration of emerging financial markets. Since there is evidence that a fixed exchange rate regime reduces the currency risk premia demanded by foreign investors, the tentative conclusion is that a fixed exchange rate regime system can help reduce the cost of capital in emerging markets. |
| Subjects: | | Exchange rate regimes Development economics |
| JEL: | | F30 F33 G15 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Bank of Canada Working Papers
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/53811
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|