TY - JOUR T1 - New Perspectives on Emerging Market Bonds JF - The Journal of Portfolio Management SP - 83 LP - 92 DO - 10.3905/jpm.1999.319737 VL - 25 IS - 2 AU - Claude B. Erb AU - Campbell R. Harvey AU - Tadas E. Viskanta Y1 - 1999/01/31 UR - https://pm-research.com/content/25/2/83.abstract N2 - 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. ER -