Persistence of Bond Yields: Evidence from BRICS Countries

Amir Imeri, Carlos Poza and Luis Alberiko Gil-Alana ()
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Luis Alberiko Gil-Alana: CUQ – Ulster University, Doha, Qatar

Review of Development Finance Journal, 2025, vol. 15, issue 1, 20-25

Abstract: This paper examines the impact of the COVID-19 pandemic and the Russia–Ukraine war on the persistence of BRICS countries' 10- and 15-year bond yields using a fractional integration framework. The analysis spans three periods: pre-pandemic (2003– 2019), pandemic (until December 2021), and post-pandemic (until September 2023). The findings reveal no significant trends in 10-year yields across BRICS countries. Mean reversion is evident for Brazil in the pre-pandemic period, and for both Brazil and South Africa across the entire sample. South Africa shows a notable trend in 15-year bond yields, with shocks observed across all series. Policy implications are discussed.

Keywords: BRICS bond yields; Fractional integration; Persistence; Shocks (search for similar items in EconPapers)
JEL-codes: C22 G12 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:afj:journ3:v:15:y:2025:i:1:p:20-25

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