Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper studies the effect of this jurisdiction choice on bond prices. We test whether foreign-law bonds trade at a premium compared to domestic-law bonds. We use...

Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper studies the effect of this jurisdiction choice on bond prices. We test whether foreign-law bonds trade at a premium compared to domestic-law bonds. We use...

The 90s have been quite an eventful decade in Brazilian macroeconomics. There have been recessions, recoveries, hyperinflation, trade liberalization, many failed stabilization attempts, a successful one, exchange-rate overvaluation, just to name a few. Despite all these, since the beginning of...