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What Determines Bond Market Development in sub-Saharan Africa?

Adelegan, Olatundun Janet - 2009

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

Sovereign ESG Bond Issuance: A Guidance Note for Sovereign Debt Managers

Lindner, Peter - 2023

to provide issuers and other stakeholders with a comprehensive view of the ESG bond marketplace …

Persistent link: https://www.econbiz.de/10015059620

Sovereign Green Bonds: A Catalyst for Sustainable Debt Market Development?

Cheng, Gong - 2024

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

Fiscal Determinants of Domestic Sovereign Bond Yields in Emerging Market and Developing Economies

Nose, Manabu - 2025

Economies (EMDEs). This paper investigates the role of fiscal policies in determining domestic bond yields, and how this … deficits results in a persistent increase in 10-year domestic bond yield by around 36 basis points over 2.5 years, with larger … effects observed during the COVID-19 pandemic. This contrasts with external bond spreads which are more sensitive to external …

Persistent link: https://www.econbiz.de/10015411343

How Much Leverage is too Much, or Does Corporate Risk Determine the Severity of a Recession?

Ivaschenko, Iryna V. - International Monetary Fund (IMF) - 2003

Economic theory suggests that vulnerable financial conditions of the corporate sector can trigger or worsen an economy-wide recession. This paper proposes a measure of corporate vulnerability, the Corporate Vulnerability Index (CVI) and analyses whether it can explain the probability and...

Persistent link: https://www.econbiz.de/10005599303

The Determinants of Corporate Risk in Emerging Markets; An Option-Adjusted Spread Analysis

Cavallo, Eduardo A.; Valenzuela, Patricio - International Monetary Fund (IMF) - 2007

This study explores the determinants of corporate bond spreads in emerging markets economies. Using a largely … unexploited dataset, the paper finds that corporate bond spreads are determined by firm-specific variables, bond characteristics …

Persistent link: https://www.econbiz.de/10005599512

Financial Implications of the Shrinking Supply of U.S. Treasury Securities

Schinasi, Garry J.; Smith, T. Todd; Kramer, Charles … - International Monetary Fund (IMF) - 2001

Recent improvements in fiscal positions in advanced countries have sharply curtailed the issuance of government securities and created the possibility that government securities could disappear in some countries. The possibility that this might occur in the United States has attracted the most...

Persistent link: https://www.econbiz.de/10005826085

A Primeron Sovereign Debt Buybacks and Swaps

Polan, Magdalena; Ramlogan, Parmeshwar; Medeiros, Carlos I. - International Monetary Fund (IMF) - 2007

This paper sets forth some basic principles that could help debt managers in emerging market and other countries to plan and implement sovereign debt buyback and swap operations. It discusses the macroeconomic context in which buybacks and swaps are undertaken, the objectives of buybacks and...

Persistent link: https://www.econbiz.de/10005826410

An Anatomy of Corporate Bond Markets; Growing Pains and Knowledge Gains

Luengnaruemitchai, Pipat; Ong, Li L. - International Monetary Fund (IMF) - 2005

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets …. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both …

Persistent link: https://www.econbiz.de/10005264116

A Primer for Risk Measurement of Bonded Debt From the Perspective of a Sovereign Debt Manager

Papaioannou, Michael G. - International Monetary Fund (IMF) - 2006

This paper presents some conventional and new measures of market, credit, and liquidity risks for government bonds. These measures are analyzed from the perspective of a sovereign's debt manager. In particular, it examines duration, convexity, M-square, skewness, kurtosis, and VaR statistics as...

Persistent link: https://www.econbiz.de/10005825661