This study aims to evaluate policies that can potentially improve the economic vulnerability of a group of emerging market countries that comprises 23 countries in the period 1998-2007, coping up to 96% of the JPMorgan Emerging Markets Bond Index Global as of December 2007. Through a panel data...

This study aims to evaluate policies that can potentially improve the economic vulnerability of a group of emerging market countries that comprises 23 countries in the period 1998-2007, coping up to 96% of the JPMorgan Emerging Markets Bond Index Global as of December 2007. Through a panel data...

Recently, a myriad of factor models including macroeconomic variables have been proposed to analyze the yield curve. We present an alternative factor model where term structure movements are captured by Legendre polynomials mimicking the statistical factor movements identified by Litterman and...

The objective of this study is to analyze the response of improvements in the regulatory rankings of emerging economies to private investments in infrastructure especially for Brazil. The proposed methodology relies on a fixed-effect panel model. We further investigated whether, after the 2008...

This study aims to quantify the potential financing estilmates from institutional investors - pension funds, insurance companies, investment funds and sovereign wealth funds - from global (OECD) and domestic markets to infrastructure in Brazil. Institutional investors are not homogeneous, and...

This study explores how the design of regulatory incentives proposed by the granting authority has the potential to impact the concessionaire's investment decisions regarding participation in the bidding process, the potential value of grants and the request for a re-bidding process or...