---
title: Buffers and Borrowing: How Reserve Accumulation Shapes Sovereign Spreads and Debt Dynamics in Emerging Economies
url: https://www.ml-quant.com/papers/repec/sad-ypaper-23/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-16
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:sad:ypaper:23
source_url: https://econpapers.repec.org/RePEc:sad:ypaper:23
featured: 2026-10-16
citations: unknown
topic: Macro-Finance & Rates
---


# Buffers and Borrowing: How Reserve Accumulation Shapes Sovereign Spreads and Debt Dynamics in Emerging Economies

The research finds that reserve adequacy shapes how global financial shocks transmit to sovereign spreads and external debt in emerging markets, with over-accumulation dampening spread responses.

- Source: https://econpapers.repec.org/RePEc:sad:ypaper:23
- Identifier: RePEc:sad:ypaper:23
- Released: 2026-10-05
- First featured: Quant Letter No. 135 (2026-10-16): https://www.ml-quant.com/issues/2026-10-16/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Macro-Finance & Rates
- Authors: Mateo Agustín Fernández

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