|
| |
| Gian Paulo Soave |
| |
| ''International Drivers of Policy Uncertainty in Emerging Economies'' |
| ( 2020, Vol. 40 No.1 ) |
| |
| |
| We investigate whether the international context can affect the economic policy uncertainty in a group of seven emerging market countries. Using a variety of global variables and a Bayesian Panel Vector Autoregression that connects domestic and international variables, we find that the conditions of the global goods market are essential drivers of policy uncertainty. Especially, a central role is played by global uncertainty, with significant and persistent effects coming from both global policy uncertainty and the volatility of global financial markets. |
| |
| |
| Keywords: Economic policy uncertainty, Emerging markets, Bayesian panel data |
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General |
| |
| Manuscript Received : Sep 20 2019 | | Manuscript Accepted : Mar 05 2020 |
|
