External Solvency, Dollarisation and Investment Grade: Towards a Virtuous Circle?
Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial volatility ha...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2001
|
| Schriftenreihe: | OECD Development Centre Working Papers
|
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial volatility has tended to leave those countries more prone to contagion effects and balance-of-payments crises. Consequently, international bond investors have required higher risk premia to balance the risk-return equation. In order to make Emerging Markets less vulnerable to external shocks, exchange-rate corner solutions such as dollarisation have been proposed. One of the main arguments put forth by the dollarisation supporters is the expected decrease in sovereign spreads, as currency risk will no longer hold. According to this "optimistic" view, which also relies on a credibility spillover effect, such a decrease could begin improving solvency weaknesses while boosting economic growth ... |
| Beschreibung: | 1 Online-Ressource (39 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/666753258080 |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047932723 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2001 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/666753258080 |2 doi | |
| 035 | |a (ZDB-13-SOC)061303488 | ||
| 035 | |a (OCoLC)1312712049 | ||
| 035 | |a (DE-599)BVBBV047932723 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Grandes, Martin |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a External Solvency, Dollarisation and Investment Grade |b Towards a Virtuous Circle? |c Martin Grandes |
| 264 | 1 | |a Paris |b OECD Publishing |c 2001 | |
| 300 | |a 1 Online-Ressource (39 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Development Centre Working Papers | |
| 520 | |a Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial volatility has tended to leave those countries more prone to contagion effects and balance-of-payments crises. Consequently, international bond investors have required higher risk premia to balance the risk-return equation. In order to make Emerging Markets less vulnerable to external shocks, exchange-rate corner solutions such as dollarisation have been proposed. One of the main arguments put forth by the dollarisation supporters is the expected decrease in sovereign spreads, as currency risk will no longer hold. According to this "optimistic" view, which also relies on a credibility spillover effect, such a decrease could begin improving solvency weaknesses while boosting economic growth ... | ||
| 650 | 4 | |a Development | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/666753258080 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033314217 | |
Datensatz im Suchindex
| _version_ | 1818806028564692992 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Grandes, Martin |
| author_facet | Grandes, Martin |
| author_role | aut |
| author_sort | Grandes, Martin |
| author_variant | m g mg |
| building | Verbundindex |
| bvnumber | BV047932723 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061303488 (OCoLC)1312712049 (DE-599)BVBBV047932723 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/666753258080 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047932723</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2001 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/666753258080</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061303488</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312712049</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047932723</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Grandes, Martin</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">External Solvency, Dollarisation and Investment Grade</subfield><subfield code="b">Towards a Virtuous Circle?</subfield><subfield code="c">Martin Grandes</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2001</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (39 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Development Centre Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial volatility has tended to leave those countries more prone to contagion effects and balance-of-payments crises. Consequently, international bond investors have required higher risk premia to balance the risk-return equation. In order to make Emerging Markets less vulnerable to external shocks, exchange-rate corner solutions such as dollarisation have been proposed. One of the main arguments put forth by the dollarisation supporters is the expected decrease in sovereign spreads, as currency risk will no longer hold. According to this "optimistic" view, which also relies on a credibility spillover effect, such a decrease could begin improving solvency weaknesses while boosting economic growth ...</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Development</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/666753258080</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033314217</subfield></datafield></record></collection> |
| id | DE-604.BV047932723 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:34:59Z |
| indexdate | 2024-12-18T19:03:15Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033314217 |
| oclc_num | 1312712049 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (39 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2001 |
| publishDateSearch | 2001 |
| publishDateSort | 2001 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Development Centre Working Papers |
| spelling | Grandes, Martin Verfasser aut External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? Martin Grandes Paris OECD Publishing 2001 1 Online-Ressource (39 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers Due to the substantial rise in the share of Emerging Markets (EM) in foreigncurrency debt markets during the nineties, country risk in EM has become an issue of increasing concern for both new bond issues and rescheduled non-performing loans. However, as recent episodes show, financial volatility has tended to leave those countries more prone to contagion effects and balance-of-payments crises. Consequently, international bond investors have required higher risk premia to balance the risk-return equation. In order to make Emerging Markets less vulnerable to external shocks, exchange-rate corner solutions such as dollarisation have been proposed. One of the main arguments put forth by the dollarisation supporters is the expected decrease in sovereign spreads, as currency risk will no longer hold. According to this "optimistic" view, which also relies on a credibility spillover effect, such a decrease could begin improving solvency weaknesses while boosting economic growth ... Development https://doi.org/10.1787/666753258080 Verlag kostenfrei Volltext |
| spellingShingle | Grandes, Martin External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? Development |
| title | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? |
| title_auth | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? |
| title_exact_search | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? |
| title_exact_search_txtP | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? |
| title_full | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? Martin Grandes |
| title_fullStr | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? Martin Grandes |
| title_full_unstemmed | External Solvency, Dollarisation and Investment Grade Towards a Virtuous Circle? Martin Grandes |
| title_short | External Solvency, Dollarisation and Investment Grade |
| title_sort | external solvency dollarisation and investment grade towards a virtuous circle |
| title_sub | Towards a Virtuous Circle? |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/666753258080 |
| work_keys_str_mv | AT grandesmartin externalsolvencydollarisationandinvestmentgradetowardsavirtuouscircle |