CEU Electronic Theses and Dissertations, 2024
| Author | Chi Nguyen |
|---|---|
| Title | Asset Purchase Programs in Emerging Markets and Developing Economies during Covid-19 |
| Summary | The Covid-19 pandemic has presented an unprecedentedly challenging time, especially for emerging markets and developing economics, which was hence inducive to the novel deployment of unconventional monetary policies, in particular asset purchase programs. This paper investigates the relationship between the government announcements of asset purchase programs of 14 emerging markets and the government bond yields using event study method. With fixed-effect regression method, the paper finds evidence in favour of asset purchase program’s lowering impact on the government long-term bond yield, but this alone does not bring down the maturity rate of shorter-term ones. The paper therefore suggests that in a 1 to 2-day window, the announcement of asset buying schemes do work, but further investigation must be conducted for the long run macro effects on the economy. |
| Supervisor | Csonto, Balazs, Horvath, Julius |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2024/nguyen_khanh-chi.pdf |
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