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What Drives Bank Lending Spreads and Collateral Requirements in the Kyrgyz Republic

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What Drives Bank Lending Spreads and Collateral Requirements in the Kyrgyz Republic »

Source: What Drives Bank Lending Spreads and Collateral Requirements in the Kyrgyz Republic

Volume/Issue: 2020/186

Series: IMF Working Papers

Author(s): Iulia Ruxandra Teodoru

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 September 2020

ISBN: 9781513556543

Keywords: Bank lending spreads, financial intermediation

Limited access to finance and its high cost have contributed to relatively low levels of private investment and subpar growth in the Kyrgyz Republic. Interest rate spreads have moderated in recent years, but remain...

Emerging Market Sovereign Bond Spreads

Emerging Market Sovereign Bond Spreads »

Source: Emerging Market Sovereign Bond Spreads : Estimation and Back-testing

Volume/Issue: 2012/212

Series: IMF Working Papers

Author(s): Fabio Comelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505627

Keywords: Emerging economies, sovereign bond yield spreads, in-sample forecasts, bond, bond spreads, sovereign bond, bond spread, sovereign bonds,

We estimate sovereign bond spreads of 28 emerging economies over the period January 1998-December 2011 and test the ability of the model in generating accurate in-sample predictions for emerging economies bond spre...

The Effect of External Conditions on Growth in Latin America

The Effect of External Conditions on Growth in Latin America »

Source: The Effect of External Conditions on Growth in Latin America

Volume/Issue: 2007/176

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , and Pär Österholm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867404

Keywords: Bayesian VAR, world growth, bond, bond spread,

This paper investigates the sensitivity of Latin American GDP growth to external developments using a Bayesian VAR model with informative steady-state priors. The model is estimated on quarterly data from 1994 to 2...

Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets

Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets »

Source: Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets

Volume/Issue: 2008/259

Series: IMF Working Papers

Author(s): Sanjeev Gupta , Amine Mati , and Emanuele Baldacci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2008

ISBN: 9781451871173

Keywords: Sovereign spreads, political risk, bond, fiscal variables, bond spreads, fiscal balance,

Using a panel of 30 emerging market economies from 1997 to 2007, this paper investigates the determinants of country risk premiums as measured by sovereign bond spreads. Unlike previous studies, the results indicat...

Determinants of Sovereign Bond Spreads in Emerging Markets

Determinants of Sovereign Bond Spreads in Emerging Markets »

Source: Determinants of Sovereign Bond Spreads in Emerging Markets : Local Fundamentals and Global Factors vs. Ever-Changing Misalignments

Volume/Issue: 2013/164

Series: IMF Working Papers

Author(s): Balazs Csonto , and Iryna Ivaschenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 July 2013

ISBN: 9781475573206

Keywords: Emerging market debt, spreads, misalignment, bond, bond spreads, emerging market bond, market bond, Asset Pricing,

We analyze the relationship between global and country-specific factors and emerging market debt spreads from three different angles. First, we aim to disentangle the effect of global and country-specific developme...

The Determinants of Corporate Risk in Emerging Markets

The Determinants of Corporate Risk in Emerging Markets »

Source: The Determinants of Corporate Risk in Emerging Markets : An Option-Adjusted Spread Analysis

Volume/Issue: 2007/228

Series: IMF Working Papers

Author(s): Eduardo Cavallo , and Patricio Valenzuela

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2007

ISBN: 9781451867923

Keywords: Corporate bond spreads, sovereign ceiling, default risk, emerging market, bond, sovereign risk, corporate bond, bond spreads,

This study explores the determinants of corporate bond spreads in emerging markets economies. Using a largely unexploited dataset, the paper finds that corporate bond spreads are determined by firm-specific variabl...

Emerging Market Spread Compression

Emerging Market Spread Compression »

Source: Emerging Market Spread Compression : Is it Real or is it Liquidity?

Volume/Issue: 2008/10

Series: IMF Working Papers

Author(s): Laura Kodres , Kristian Hartelius , and Kenichiro Kashiwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868722

Keywords: Sovereign Spreads, Fundamentals, bond, bond spreads, market bond, emerging market bond, standard deviation,

Despite recent turmoil, spreads on emerging market countries' sovereign bonds have fallen dramatically since mid-2002. Some have attributed the fall to improved economic fundamentals while others to ample global li...

Resource Windfalls and Emerging Market Sovereign Bond Spreads

Resource Windfalls and Emerging Market Sovereign Bond Spreads »

Source: Resource Windfalls and Emerging Market Sovereign Bond Spreads : The Role of Political Institutions

Volume/Issue: 2010/179

Series: IMF Working Papers

Author(s): Rabah Arezki , and Markus Bruckner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455202133

Keywords: Sovereign Bond Spread, Political Institutions, sovereign bond, sovereign bonds, bond, bond spreads, bonds,

We examine the effect that revenue windfalls from international commodity price shocks have on sovereign bond spreads using panel data for 30 emerging market economies during the period 1997-2007. Our main finding...

'Beneficial' Delays in Debt Restructuring Negotiations

'Beneficial' Delays in Debt Restructuring Negotiations »

Source: 'Beneficial' Delays in Debt Restructuring Negotiations

Volume/Issue: 2008/38

Series: IMF Working Papers

Author(s): Ran Bi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869002

Keywords: debt renegotiation, stochastic bargaining, renegotiation delays, bond, bond spreads,

Delays in debt restructuring negotiations are widely regarded as inefficient. This paper argues that delays can allow the economy to recover from a crisis, make more resources available for debt settlement, and ena...

Euro Area Sovereign Risk During the Crisis1

Euro Area Sovereign Risk During the Crisis1 »

Source: Euro Area Sovereign Risk During the Crisis

Volume/Issue: 2009/222

Series: IMF Working Papers

Author(s): Edda Zoli , and Silvia Sgherri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873696

Keywords: Sovereign Spreads, Global Risk Repricing, bond, sovereign bond, bonds,

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainabi...