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E-RESOURCE
Author Gelos, R.

Title Sovereign Borrowing by Developing Countries [electronic resource] : What Determines Market Access? / R. Gelos.

Published Washington, D.C. : International Monetary Fund, 2004.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 1 online resource (42 p.)
Series IMF Working Papers; Working Paper ; No. 04/221
IMF Working Papers; Working Paper ; No. 04/221
Summary What determines the ability of governments from developing countries to access international credit markets? We examine this question using detailed data on sovereign bond issuances and public syndicated bank loans since 1982. We find that traditional measures of a country's links with the rest of the world (such as trade openness) and traditional liquidity and macroeconomic indicators do not help much in explaining market access. However, a country's vulnerability to shocks and the perceived quality of its policies and institutions appear to be important determinants of its government's ability to tap the markets. We are unable to detect strong punishment of defaulting countries by credit markets.
Notes Description based on print version record.
Other author Gelos, R.
Sahay, Ratna.
Sandleris, Guido.
Subject Capital Flows
Capital Market
Credit Markets
Market Access
Private Capital Flows
Syndicated Bank Loans
ISBN 1451875266 : 15.00 USD
9781451875263
ISSN 1018-5941
Standard Number 10.5089/9781451875263.001