Abstract
During the period in which the lira adhered to the narrow fluctuation band of the EMS, yields were considerably higher in Italy than on the leading European money markets both short-term and long-term. Despite the persistence of very wide interest-rate differentials, the expansion of investment in lira-denominated assets by foreign investors was not as great as the higher yields would have warranted.
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© 1994 Springer Science+Business Media Dordrecht
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Drudi, F., Majnoni, G. (1994). The determinants of yield differentials in favour of the lira: a quantitative analysis. In: Conti, V., Hamaui, R., Scobie, H.M. (eds) Bond Markets, Treasury and Debt Management. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-1208-6_3
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DOI: https://doi.org/10.1007/978-94-011-1208-6_3
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