\[begin{array}{*{20}{l}} {Sovereign{\text{ }}yield{\text{ }}spread}\ begin{array}{l} = {\text{ Y}}ields{\text{ }}of{\text{ }}government{\text{ }}bonds{\text{ }}in{\text{ }}in{\text{ }}the{\text{ }}developing{\text{ }}country\ - Treasury{\text{ }}bonds{\text{ }}of{\text{ }}similar{\text{ }}maturities end{array} end{array}\]