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Persistent link: https://www.econbiz.de/10011563285
This paper studies the current state and drivers of government local currency bond market (LCBM) development in Sub-Saharan Africa. We argue that well-developed government LCBMs could reduce countries' exposure to external shocks; help overcome ‘original sin'; facilitate domestic savings...
Persistent link: https://www.econbiz.de/10013020232
Persistent link: https://www.econbiz.de/10012614459
This study explores the drivers of secondary market yields of Sub-Saharan African (SSA) sovereign Eurobonds from 2008 to mid-2017. Our results indicate that, beyond global 'push' factors, country-specific 'pull' factors such as inflation and GDP growth matter too for SSA Eurobond performance. A...
Persistent link: https://www.econbiz.de/10011883240
Persistent link: https://www.econbiz.de/10014335108
Developing countries have recently proved reluctant to participate in sovereign debt moratoria and debt relief initiatives. We argue that debtors' (non-)participation decisions can be understood through the lens of real options. Eligible countries compare the net benefits of participating in a...
Persistent link: https://www.econbiz.de/10015059254
This paper studies the current state and drivers of the development of government local currency bond markets (LCBMs) in Sub-Saharan Africa, a region whose progress in developing such markets has only recently received attention in the literature. We argue that well-developed LCBMs could reduce...
Persistent link: https://www.econbiz.de/10013031636
This study explores the drivers of secondary market yields of Sub-Saharan African (SSA) sovereign Eurobonds from 2008 to mid-2017. Our results indicate that, beyond global 'push' factors, country-specific 'pull' factors such as inflation and GDP growth matter too for SSA Eurobond performance. A...
Persistent link: https://www.econbiz.de/10015331380
We study how 22 donors allocate their bilateral aid among 147 recipient countries over the 1970- 2004 period to investigate whether changes in the international aid architecture?at the international and country level?have led to changes in behavior. We find that after the fall of the Berlin...
Persistent link: https://www.econbiz.de/10014400887
In May 1999, Nigeria, Africa’s most populous country, made an epochal transition to democratic civilian rule following roughly thirty-three years of military dictatorship. Since 1999, Nigeria has held four successive elections, which have all been (more or less) undermined by electoral...
Persistent link: https://www.econbiz.de/10011163130