Silva, André de CastroVishwakarma, Bhuvan2026-03-042026-03-042025-01-142024-12-13http://hdl.handle.net/10362/200957This thesis investigates the factors that influence demand for Mexican government debt in the primary market as measured by bond auction bid-to-cover ratios. The paper examines the influence of oil market dynamics, domestic and global risk indicators and macroeconomic factors using panel data and fixed-effects models. The findings emphasize how important creditworthiness and oil prices are in drawing in investors, but global liquidity and economic expansion also have an impact. With a focus on diversification and careful credit management in emerging nations, the findings offer policy insights for enhancing fiscal resilience and preserving investor confidence.engOil pricesAuction behaviourSVARPanel regressionBid to cover ratiomaster thesis204130735