Demirgüç-Kunt, Asli - 2011
. For an international sample of banks, this paper investigates the impact of government indebtedness and deficits on bank … stock prices and CDS spreads. Overall, bank stock prices reflect a negative capitalization of government debt and they … valuation in countries running large fiscal deficits. Furthermore, the change in bank CDS spreads in 2008 relative to 2007 …