Series: IMF Working Papers
Author(s): Jeronimo Zettelmeyer , Beatrice Weder , and Christoph Klingen
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2004
Keywords: crises, returns capital flows, bonds, bond, creditors, debt stock, debt crises, returns,
We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on World Bank data. From 1970-2000, returns averaged 9 percent per annum, about the same as returns...