On the Pricing of LDC Debt: An Analysis Based on Historical Evidence from Latin America
This paper displays and discusses historical data on sovereign debt prices for two Latin American countries and provides a signalling framework to account for the following phenomena: (a) prices for old (defaulted) and newly-issued debts were the same, but such prices diverge and rise sharply once t...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1992
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| Series: | OECD Development Centre Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper displays and discusses historical data on sovereign debt prices for two Latin American countries and provides a signalling framework to account for the following phenomena: (a) prices for old (defaulted) and newly-issued debts were the same, but such prices diverge and rise sharply once the countries stopped issuing new foreign debt, and, (b) the price of defaulted and newly issued debts both tend to rise as the latter approaches maturity and the country starts redeeming all its outstanding obligations. The analysis sheds some light on the valuation of different debt instruments in today's secondary market for LDC debt ... |
| Physical Description: | 1 Online-Ressource (23 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/745662235424 |
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| physical | 1 Online-Ressource (23 Seiten) 21 x 29.7cm |
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| spelling | de Aghion, Béatriz Armendariz Verfasser aut On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America Béatriz Armendariz de Aghion Paris OECD Publishing 1992 1 Online-Ressource (23 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers This paper displays and discusses historical data on sovereign debt prices for two Latin American countries and provides a signalling framework to account for the following phenomena: (a) prices for old (defaulted) and newly-issued debts were the same, but such prices diverge and rise sharply once the countries stopped issuing new foreign debt, and, (b) the price of defaulted and newly issued debts both tend to rise as the latter approaches maturity and the country starts redeeming all its outstanding obligations. The analysis sheds some light on the valuation of different debt instruments in today's secondary market for LDC debt ... Development https://doi.org/10.1787/745662235424 Verlag kostenfrei Volltext |
| spellingShingle | de Aghion, Béatriz Armendariz On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America Development |
| title | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America |
| title_auth | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America |
| title_exact_search | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America |
| title_exact_search_txtP | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America |
| title_full | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America Béatriz Armendariz de Aghion |
| title_fullStr | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America Béatriz Armendariz de Aghion |
| title_full_unstemmed | On the Pricing of LDC Debt An Analysis Based on Historical Evidence from Latin America Béatriz Armendariz de Aghion |
| title_short | On the Pricing of LDC Debt |
| title_sort | on the pricing of ldc debt an analysis based on historical evidence from latin america |
| title_sub | An Analysis Based on Historical Evidence from Latin America |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/745662235424 |
| work_keys_str_mv | AT deaghionbeatrizarmendariz onthepricingofldcdebtananalysisbasedonhistoricalevidencefromlatinamerica |