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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

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