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Assessing Loss of Market Access: Conceptual and Operational Issues

Assessing Loss of Market Access: Conceptual and Operational Issues »

Source: Assessing Loss of Market Access: Conceptual and Operational Issues

Volume/Issue: 2017/246

Series: IMF Working Papers

Author(s): Anastasia Guscina , Sheheryar Malik , and Michael Papaioannou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2017

ISBN: 9781484324936

Keywords: Market Access, Sovereign Debt Restructuring; Default; Bond Spreads, Sovereign Debt Restructuring, Default, Bond Spreads, Assessing Loss of Market Access:

Loss of market access (LMA) is a central element and an exacerbator of balance of payments and fiscal crises. This paper provides an operational definition of LMA, examines the predictive power of potential LMA lea...

The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads1

The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads1 »

Source: The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads

Volume/Issue: 2017/74

Series: IMF Working Papers

Author(s): Sangyup Choi , and Yuko Hashimoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 March 2017

ISBN: 9781475589603

Keywords: data transparency, structural reforms, sovereign bond spreads, GDDS, SDDS, event study, General

We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerging market sovereign bonds. To overcome endogeneity issu...

Does Gross or Net Debt Matter More for Emerging Market Spreads?

Does Gross or Net Debt Matter More for Emerging Market Spreads? »

Source: Does Gross or Net Debt Matter More for Emerging Market Spreads?

Volume/Issue: 2016/246

Series: IMF Working Papers

Author(s): Metodij Hadzi-Vaskov , and Luca Ricci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2016

ISBN: 9781475563108

Keywords: International financial markets, Government debt, Emerging markets, Developed countries, Bonds, Interest rates, Time series, Sovereign debt, Net debt, Sovereign bond spreads

Does gross or net debt matter for long-term sovereign spreads in emerging markets? The topic is important for undestanding the borrowing cost implications of public assetliability management decisions (e.g. using a...

Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics

Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics »

Source: Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics

Volume/Issue: 2016/37

Series: IMF Working Papers

Author(s): Tamon Asonuma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2016

ISBN: 9781475597738

Keywords: Sovereign Defaults, External Debt, Real Exchange Rate, Currency Composition of Debt, Bond Spreads, exchange, default, exchange rate, defaults, International Lending and Debt Problems

Emerging countries experience real exchange rate depreciations around defaults. In this paper, we examine this observed pattern empirically and through the lens of a dynamic stochastic general equilibrium model. Th...

Assessing Loss of Market Access: Conceptual and Operational Issues

Assessing Loss of Market Access: Conceptual and Operational Issues »

Volume/Issue: 2017/246

Series: IMF Working Papers

Author(s): Anastasia Guscina , Sheheryar Malik , and Michael Papaioannou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2017

DOI: http://dx.doi.org/10.5089/9781484324936.001

ISBN: 9781484324936

Keywords: Market Access, Sovereign Debt Restructuring; Default; Bond Spreads, Sovereign Debt Restructuring, Default, Bond Spreads, Assessing Loss of Market Access:

Loss of market access (LMA) is a central element and an exacerbator of balance of payments and fiscal crises. This paper provides an operational definition of LMA, examines the predictive power of potential LMA lea...

The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads

The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads »

Volume/Issue: 2017/74

Series: IMF Working Papers

Author(s): Sangyup Choi , and Yuko Hashimoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 March 2017

DOI: http://dx.doi.org/10.5089/9781475589603.001

ISBN: 9781475589603

Keywords: data transparency, structural reforms, sovereign bond spreads, GDDS, SDDS, event study, General

We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerging market sovereign bonds. To overcome endogeneity issu...

Does Gross or Net Debt Matter More for Emerging Market Spreads?

Does Gross or Net Debt Matter More for Emerging Market Spreads? »

Volume/Issue: 2016/246

Series: IMF Working Papers

Author(s): Metodij Hadzi-Vaskov , and Luca Ricci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2016

DOI: http://dx.doi.org/10.5089/9781475563108.001

ISBN: 9781475563108

Keywords: International financial markets, Government debt, Emerging markets, Developed countries, Bonds, Interest rates, Time series, Sovereign debt, Net debt, Sovereign bond spreads

Does gross or net debt matter for long-term sovereign spreads in emerging markets? The topic is important for undestanding the borrowing cost implications of public assetliability management decisions (e.g. using a...

Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics

Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics »

Volume/Issue: 2016/37

Series: IMF Working Papers

Author(s): Tamon Asonuma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2016

DOI: http://dx.doi.org/10.5089/9781475597738.001

ISBN: 9781475597738

Keywords: Sovereign Defaults, External Debt, Real Exchange Rate, Currency Composition of Debt, Bond Spreads, exchange, default, exchange rate, defaults, International Lending and Debt Problems

Emerging countries experience real exchange rate depreciations around defaults. In this paper, we examine this observed pattern empirically and through the lens of a dynamic stochastic general equilibrium model. Th...