Sovereign Debt Distress and Corporate Spillover Impacts:
Econometric evidence presented confirms that investors' perceptions of sovereign debt problems translate into higher costs of capital for private corporate issuers, with the magnitude of such costs increasing at times when sovereign bonds trade at spreads exceeding a threshold of 1000 bps. The...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2010
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | Econometric evidence presented confirms that investors' perceptions of sovereign debt problems translate into higher costs of capital for private corporate issuers, with the magnitude of such costs increasing at times when sovereign bonds trade at spreads exceeding a threshold of 1000 bps. The key policy recommendation emerging from the analysis relates to the need to improve sovereign creditworthiness in order to prevent a loss in investor confidence that could trigger a panicky sell-off in sovereign debt with adverse macroeconomic and fiscal consequences. Implications for future research point to the need to develop better models of corporate bond pricing and valuation, recognizing explicitly the role of sovereign credit risk |
| Beschreibung: | 1 Online-Ressource (28 p) |
| DOI: | 10.1596/1813-9450-5380 |
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| 520 | |a Econometric evidence presented confirms that investors' perceptions of sovereign debt problems translate into higher costs of capital for private corporate issuers, with the magnitude of such costs increasing at times when sovereign bonds trade at spreads exceeding a threshold of 1000 bps. The key policy recommendation emerging from the analysis relates to the need to improve sovereign creditworthiness in order to prevent a loss in investor confidence that could trigger a panicky sell-off in sovereign debt with adverse macroeconomic and fiscal consequences. Implications for future research point to the need to develop better models of corporate bond pricing and valuation, recognizing explicitly the role of sovereign credit risk | ||
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| index_date | 2024-07-03T19:59:50Z |
| indexdate | 2024-10-12T04:01:05Z |
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| spellingShingle | Dailami, Mansoor Sovereign Debt Distress and Corporate Spillover Impacts |
| title | Sovereign Debt Distress and Corporate Spillover Impacts |
| title_auth | Sovereign Debt Distress and Corporate Spillover Impacts |
| title_exact_search | Sovereign Debt Distress and Corporate Spillover Impacts |
| title_exact_search_txtP | Sovereign Debt Distress and Corporate Spillover Impacts |
| title_full | Sovereign Debt Distress and Corporate Spillover Impacts Dailami, Mansoor |
| title_fullStr | Sovereign Debt Distress and Corporate Spillover Impacts Dailami, Mansoor |
| title_full_unstemmed | Sovereign Debt Distress and Corporate Spillover Impacts Dailami, Mansoor |
| title_short | Sovereign Debt Distress and Corporate Spillover Impacts |
| title_sort | sovereign debt distress and corporate spillover impacts |
| url | https://doi.org/10.1596/1813-9450-5380 |
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