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There is a new wave of external borrowing by African governments on private sovereign bond markets. The findings in this paper indicate that African economies pay higher-than-normal coupon rates on these markets; observed risk measures like agency ratings and debt to GDP ratios do not explain...
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China has become a major player in sovereign lending towards Africa during the past two decades but has recently been …China hat sich in den letzten zwei Jahrzehnten zu einem wichtigen Akteur bei der Vergabe von Staatskrediten an Afrika … between China and Western creditor countries contribute to preventing effective global sovereign debt management under the …
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Africa's sovereign debt markets are not well understood, partly due to a lack of data. This paper introduces the Africa … a total volume of 790 billion USD. Using this data, we study Africa's record lending boom of the 2010s in detail. The … organizations just 1 percent. Strikingly, many governments in Africa simultaneously borrow large amounts from both private and …
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This paper investigates the determinants of the sovereign risk premium in African countries. We employ the dynamic fixed effects model to determine the key drivers of sovereign bond spreads. Country-specific effects are fixed and the inclusion of dummy variables using the Bai-Perron multiple...
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