Does Sdds Subscription Reduce Borrowing Costs for Emerging Market Economies:

Does macroeconomic data transparency-as signaled by subscription to the IMF''s Special Data Dissemination Standard (SDDS)-help reduce borrowing costs in private capital markets? This question is examined using detailed data on new issues of sovereign foreign currency-denominated (U.S. doll...

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1. Verfasser: Cady, John (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C International Monetary Fund 2004
Schriftenreihe:IMF Working Papers Working Paper No. 04/58
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Zusammenfassung:Does macroeconomic data transparency-as signaled by subscription to the IMF''s Special Data Dissemination Standard (SDDS)-help reduce borrowing costs in private capital markets? This question is examined using detailed data on new issues of sovereign foreign currency-denominated (U.S. dollar, yen, and euro) bonds for several emerging market economies. Panel econometric estimates indicate that spreads on new bond issues declined by about 75 basis points following SDDS subscription
Beschreibung:1 Online-Ressource (14 p)
ISBN:1451847890
9781451847895

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