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Emerging Market Bond Spreads and Sovereign Credit Ratings

Emerging Market Bond Spreads and Sovereign Credit Ratings »

Source: Emerging Market Bond Spreads and Sovereign Credit Ratings : Reconciling Market Views with Economic Fundamentals

Volume/Issue: 2001/165

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858051

Keywords: Bond spreads, monitoring, risk appetite, bond, bonds, emerging market bond, market bond, Financial Institutions and Services: General,

This paper uses a panel data estimation of a simple univariate model of sovereign spreads on ratings to analyze statistically significant deviations from the estimated relationship. We find evidence of an asymmetri...

Emerging Market Bond Spreads and Sovereign Credit Ratings
			: Reconciling Market Views with Economic Fundamentals

Emerging Market Bond Spreads and Sovereign Credit Ratings : Reconciling Market Views with Economic Fundamentals »

Volume/Issue: 2001/165

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

DOI: http://dx.doi.org/10.5089/9781451858051.001

ISBN: 9781451858051

Keywords: Bond spreads, monitoring, risk appetite, bond, bonds, emerging market bond, market bond, Financial Institutions and Services: General,

This paper uses a panel data estimation of a simple univariate model of sovereign spreads on ratings to analyze statistically significant deviations from the estimated relationship. We find evidence of an asymmetri...

Information Asymmetries in Developing Country Financing

Information Asymmetries in Developing Country Financing »

Volume/Issue: 1994/79

Series: IMF Working Papers

Author(s): George Anayotos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1994

DOI: http://dx.doi.org/10.5089/9781451955781.001

ISBN: 9781451955781

Keywords: risk sharing, moral hazard, information asymmetries, capital markets, capital market

This paper assesses the impact of information asymmetries on developing country financing and considers alternative techniques to reduce the adverse implications of such asymmetries. Following an introduction, Sect...

Institutional Investors and Asset Pricing in Emerging Markets

Institutional Investors and Asset Pricing in Emerging Markets »

Volume/Issue: 1996/2

Series: IMF Working Papers

Author(s): Elaine Buckberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1996

DOI: http://dx.doi.org/10.5089/9781451841718.001

ISBN: 9781451841718

Keywords: investors, equity markets, institutional investors, stock markets, expected returns

This paper presents a new theory of asset pricing intended to address why other developing country equity markets responded so strongly to the Mexican devaluation, while the world’s major stock markets were...

International Pricing of Emerging Market Corporate Debt
			: Does the Corporate Matter?

International Pricing of Emerging Market Corporate Debt : Does the Corporate Matter? »

Volume/Issue: 2010/26

Series: IMF Working Papers

Author(s): Sonja Keller , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

DOI: http://dx.doi.org/10.5089/9781451962475.001

ISBN: 9781451962475

Keywords: Corporate bonds, bond spreads, Fama-French factors, equity returns, bonds, bond, General Financial Markets, Corporate Finance And Governance,

We examine risk spreads charged on corporate bonds placed by emerging market borrowers on international exchanges. While global developments have an important effect on spreads, changes in firm-level default risk a...

Policy Responses to External Imbalances in Emerging Market Economies
			: Further Empirical Results

Policy Responses to External Imbalances in Emerging Market Economies : Further Empirical Results »

Volume/Issue: 1998/103

Series: IMF Working Papers

Author(s): Luis Carranza , and Chorng-Huey Wong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1998

DOI: http://dx.doi.org/10.5089/9781451948189.001

ISBN: 9781451948189

Keywords: capital inflows, emerging market economies, external imbalances, policy designs, causality test, current account, capital account, current account balance, current account deficits

A bivariate vector-autoregression (VAR) model is used to test causal relations between the current account and the capital account in four emerging market economies. The results show that high capital mobility coul...

The Potential Role for Securitizing Public Sector Revenue Flows
			: An Application to the Philippines

The Potential Role for Securitizing Public Sector Revenue Flows : An Application to the Philippines »

Volume/Issue: 2002/106

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

DOI: http://dx.doi.org/10.5089/9781451852905.001

ISBN: 9781451852905

Keywords: securitization, debt service, capital markets, credit rating, General Financial Markets,

Since the mid-1980s, the securitization of future flow receivables has grown in importance as a financing alternative for the public sector. In a world of perfect capital markets, there appears to be little rationa...

Information Asymmetries in Developing Country Financing

Information Asymmetries in Developing Country Financing »

Source: Information Asymmetries in Developing Country Financing

Volume/Issue: 1994/79

Series: IMF Working Papers

Author(s): George Anayotos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1994

ISBN: 9781451955781

Keywords: risk sharing, moral hazard, information asymmetries, capital markets, capital market

This paper assesses the impact of information asymmetries on developing country financing and considers alternative techniques to reduce the adverse implications of such asymmetries. Following an introduction, Sect...

Institutional Investors and Asset Pricing in Emerging Markets

Institutional Investors and Asset Pricing in Emerging Markets »

Source: Institutional Investors and Asset Pricing in Emerging Markets

Volume/Issue: 1996/2

Series: IMF Working Papers

Author(s): Elaine Buckberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1996

ISBN: 9781451841718

Keywords: investors, equity markets, institutional investors, stock markets, expected returns

This paper presents a new theory of asset pricing intended to address why other developing country equity markets responded so strongly to the Mexican devaluation, while the world’s major stock markets were...

International Pricing of Emerging Market Corporate Debt

International Pricing of Emerging Market Corporate Debt »

Source: International Pricing of Emerging Market Corporate Debt : Does the Corporate Matter?

Volume/Issue: 2010/26

Series: IMF Working Papers

Author(s): Sonja Keller , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451962475

Keywords: Corporate bonds, bond spreads, Fama-French factors, equity returns, bonds, bond, General Financial Markets, Corporate Finance And Governance,

We examine risk spreads charged on corporate bonds placed by emerging market borrowers on international exchanges. While global developments have an important effect on spreads, changes in firm-level default risk a...