Series: IMF Working Papers
Author(s): Yongseok Shin , and Rachel Glennerster
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2003
Keywords: publication, institutions, sovereign spreads, SDDS, ROSC, GARCH, news effect, role of the IMF, credit ratings, borrowing costs
This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quar...