Dynamics, Volatilities and Properties ofAsia-Pacific Government Bond Yields:Implications for Economic Development

We study the dynamics, volatilities and properties of the series of government bond yields of ten Asia-Pacific countries with seven ARCH/GARCH models. The main findings have the following implications: 1) regional government bond markets cannot be treated as a single bloc; 2) non-integrated markets generate tradeoffs for economic development between policy coordination and the diversification and hedging of risks; 3) markets punish “bad news”; 4) the persistence of volatility and uncertainty characterizes many markets; and 5) the capacity of government bonds to achieve development goals was unevenly distributed and, in several cases, constrained among the countries. The study uses daily data for the period from January 1st, 2014 to April 6th, 2026.

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Publication Details

Journal
China Global Review.
Published
2026-11-11
DOI
https://doi.org/10.53897/revchinagr.2026.08.08
Primary Topic
Financial Risk and Volatility Modeling
Type
article
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article

Dynamics, Volatilities and Properties ofAsia-Pacific Government Bond Yields:Implications for Economic Development

Antonio Ruíz-Porras, Huentli Yolotli Suárez Espinosa
China Global Review.
Financial Risk and Volatility Modeling
article

Dynamics, Volatilities and Properties ofAsia-Pacific Government Bond Yields:Implications for Economic Development

Antonio Ruíz-Porras, Huentli Yolotli Suárez Espinosa
article en

Abstract

We study the dynamics, volatilities and properties of the series of government bond yields of ten Asia-Pacific countries with seven ARCH/GARCH models. The main findings have the following implications: 1) regional government bond markets cannot be treated as a single bloc; 2) non-integrated markets generate tradeoffs for economic development between policy coordination and the diversification and hedging of risks; 3) markets punish “bad news”; 4) the persistence of volatility and uncertainty characterizes many markets; and 5) the capacity of government bonds to achieve development goals was unevenly distributed and, in several cases, constrained among the countries. The study uses daily data for the period from January 1st, 2014 to April 6th, 2026.

China Global Review.Vol. 4(8)
Universidad de Guadalajara (MX)
Financial Risk and Volatility Modeling
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