RT Journal Article
SR Electronic
T1 New Perspectives on Emerging Market Bonds
JF The Journal of Portfolio Management
FD Institutional Investor Journals
SP 83
OP 92
DO 10.3905/jpm.1999.319737
VO 25
IS 2
A1 Claude B. Erb
A1 Campbell R. Harvey
A1 Tadas E. Viskanta
YR 1999
UL https://pm-research.com/content/25/2/83.abstract
AB This article examine the role of emerging market bonds in global investment portfolios. The authors explore the history of these bonds and examine expected returns, risk, and higher moments with data extending though the emerging market crash. The authors find that country risk measures are valuable in explaining expected returns and volatilities in these markets. They also argue that the high expected returns are compensation for large negative skewness risk.