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The Pricing of Bonds and Bank Loans in International Markets: An Empirical Analysis of Developing Countries' Foreign Borrowing / Sebastian Edwards.
- Format:
- Book
- Author/Creator:
- Edwards, Sebastian.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w1689.
- NBER working paper series no. w1689
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Pricing of Bonds and Bank Loans in International Markets
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1985.
- Summary:
- The purpose of this paper is to compare the pricing of bank loans and bonds in international markets. The results obtained, using data on LDC debtors, indicate that in both markets the country risk premium has responded to some of the variables suggested by the theory. However, the way in which these variables affect the risk premium differs across these markets. Data on LDC bond yields in the secondary market for 1980-85 are also used to analyze the way in which this market reacted and anticipated the debt crisis.
- Notes:
- Print version record
- August 1985.
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