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In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market … development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond … markets. Yet, our empirical study finds that sovereign green bond issuance can have quantitative and qualitative benefits for …
Persistent link: https://www.econbiz.de/10015080326
Intro -- Contents -- I. MOTIVATION -- II. HISTORICAL EVIDENCE ON DEFAULT AND LENDING RESUMPTION -- III. THE ENVIRONMENT -- IV. OBSERVABLE TYPES -- V. UNOBSERVABLE TYPES -- VI. CONCLUDING REMARKS -- PROOFS OF PROPOSITIONS 3 AND 4 -- REFERENCES.
Persistent link: https://www.econbiz.de/10012691139
This study empirically analyzes the determinants of bond market development in a cross section of 23 sub …-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well … as the historical, structural, institutional and macroeconomic factors driving bond market development in SSA. The study …
Persistent link: https://www.econbiz.de/10012677884
to provide issuers and other stakeholders with a comprehensive view of the ESG bond marketplace …
Persistent link: https://www.econbiz.de/10015059620
We estimate sovereign bond spreads of 28 emerging economies over the period January 1998-December 2011 and test the … ability of the model in generating accurate in-sample predictions for emerging economies bond spreads. The impact and … significance of country-specific and global explanatory variables on bond spreads varies across regions, as well as economic …
Persistent link: https://www.econbiz.de/10009621639
risk premiums as measured by sovereign bond spreads. Unlike previous studies, the results indicate that both fiscal and …
Persistent link: https://www.econbiz.de/10012677688
shown that bid-ask spreads (a proxy for market liquidity) and yields are closely related to bond characteristics such as …
Persistent link: https://www.econbiz.de/10015060410
In recent years there has been substantial theoretical and empirical work on the role that financial markets play in fostering economic growth and development. This paper provides a selective review of the literature, as well as new empirical evidence on the relationship between financial...
Persistent link: https://www.econbiz.de/10005263653
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental...
Persistent link: https://www.econbiz.de/10009293778
This paper evaluates the potential role of mandatory subordinated debt (MSD) in enhancing market discipline in emerging markets. The conceptual merits and key preconditions of MSD are first reviewed. Then, the extent to which emerging markets satisfy these preconditions—among them the...
Persistent link: https://www.econbiz.de/10005599477